Copper futures edged up on overseas cues, spot demand

New Delhi, Amid a firm global trend and pick up in demand at domestic spot market, copper prices traded higher by 0.16 per cent to Rs 317.60 per kg in futures trade today as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in August traded higher by 50 paise or 0.16 per cent to Rs 317.60 per kg in business turnover of 323 lots.

Likewise, the metal for delivery in November contracts edged up by 40 paise or 0.12 per cent to Rs 324.30 per kg in 4 lots.

Analysts said firm trend overseas and increased demand from consuming industries in domestic spot markets led to rise in copper prices in futures trade.