New Delhi: Copper prices rose by Rs 1.25 to Rs 407.60 per kg in futures trade on Wednesday on fresh buying by traders, tracking a firming trend in base metals overseas.
Trading sentiments bolstered after copper climbed in overseas markets on optimism that Greece will be able to pass an austerity package needed to secure more financial aid and prevent a default on its debts.
At the Multi Commodity Exchange, copper for delivery in June rose by Rs 1.25, or 0.31 per cent, to Rs 407.60 per kg, with a business turnover of three lots.
Similarly, the metal for delivery in August gained Rs 1.25, or 0.30 per cent, to Rs 412.25 per kg, with an open interest of seven lots.
Market experts said fresh buying by traders in tandem with a firming trend in overseas market mainly pushed up copper futures price.
Increased demand in the spot market from consuming industries further fuelled the uptrend,
