Copper rise on higher spot demand in futures trade

New Delhi, Sep 11 (PTI) Copper prices rose Rs 1.85 to Rs 909.15 per kilogram in the domestic futures market on Thursday due to higher spot demand.

Extending the gains for the fourth consecutive session, copper contracts for September delivery went up by Rs 1.85 or 0.2 per cent to Rs 909.15 per kg in a business turnover of 6,034 lots on the Multi Commodity Exchange.

The red metal futures for October delivery increased Rs 2.35 or 0.26 per cent to Rs 914.45 per kg on the commodities bourse.

"Copper prices registered gains for the fourth straight session, supported by an increased probability of interest rate cuts by the US Federal Reserve and a weak dollar, which enhanced the attractiveness of industrial metals," brokerage firm Axis Securities said. PTI HG HG SHW