NEW DELHI, Jan 24: Copper futures traded 0.55 per cent higher at Rs 442.35 per kg today as participants covered their short positions even as the metal weakened overseas.
At the Multi Commodity Exchange, copper for delivery in February traded higher by Rs 2.40, or 0.55 per cent, at Rs 442.35 per kg, in a business turnover of 814 lots.
The metal for delivery in April edged up by Rs 2.20, or 0.50 per cent, to Rs 446.25 per kg in 20 lots.
Globally, copper for delivery in three months fell 2.6 per cent to settle at USD 6,885 per tonne at the London Metal Exchange in yesterday’s trade as inventories tracked by the bourse jumped by the most in 10 months.
Market analysts said besides increased demand from consuming industries, covering up of short positions influenced copper prices. (PTI)
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