Commodity reported that copper futures marginally gained today as traders created fresh positions and on rising demand from the domestic market.

At MCX Copper August contract is now trading at INR 427.25 per Kilogram slight lower by 0.80% against the previous close. In the morning session the contract traded at a high of INR 432.30 per Kilogram. Open interest of the contract is 25253 lots and volume traded is 42149 Kilogram so far.

Concerns over the US economy have heightened despite the increase in US debt ceiling as economic data continues to remain poor. Manufacturing activity in the US has slowed down and this too has raised demand concern for industrial metals.

(Sourced from Commodity Online)