Copper Futures Keep Head Above Water

Copper futures were trading higher during afternoon trade in the domestic market on Friday as investors and speculators extended their positions in the industrial metal amid firming trend at the domestic spot markets.

However, weakness in metal overseas, capped the gains. Market experts said a better trend in base metals at the domestic spot markets on pick-up in demand from consuming industries, fueled copper prices at futures trade.

At the MCX, copper futures for June 2017 contract is trading at Rs 366.10 per kg, up by 0.43 per cent, after opening at Rs 364.70, against a previous close of Rs 364.55. It touched the intra-day high of Rs 367.20 (at 14:16 hours).

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