Tracking firming global trend, copper prices rose by Rs 1.70, or 0.50 per cent, to Rs 340.25 per kg in futures trade today, as speculators enlarged their positions in tandem with a firming global trend.
Trading sentiment turned bullish after copper gained in Asia, paring the first weekly loss in a month, as decline in the dollar increased the appeal of raw materials, priced in the US currency.
At the Multi-Commodity Exchange counter, copper for August rose by Rs 1.70, or 0.50 per cent, to Rs 340.25 per kg, with an open interest of 36,179 lots.
Similarly, the metal for delivery in November-month edged up by Rs 1.50, or 0.44 per cent, to Rs 342.85 per kg, with a business turnover of 7,416 lots.
Analysts said rise in copper prices at the London Metal Exchange, pick up in demand at spot markets pushed up the copper prices at futures market here.
Meanwhile, copper for three-month copper rose 0.3 per cent to $7,300 a metric tonne on the London Metal Exchange.
