Copper futures up 0.24% on spot demand 25/08/2016

Copper futures up 0.24% on spot demand
25/08/2016 11:00

Copper futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators build up fresh positions amid a rise in demand for industrial metal from major consuming industries. Also, the China leading index rose 0.7 per cent in July from June, when it advanced 0.5 per cent.
However, traders remained cautious ahead of Fed Chair Janet Yellen’s speech on Friday which may offer more clues over when the Fed plans to raise interest rates next. At the MCX, copper futures for August 2016 contract is trading at Rs 309.40 per kg, up by 0.24 per cent, after opening at Rs 309.25, against a previous close of Rs 308.65. It touched the intra-day high of Rs 309.65 (at 10:49 hours).