BS reported that Indian copper prices rose by INR 1.20 to INR 416.15 per kilogram in futures trade as speculators created fresh positions, tracking a firm global trend.
Copper rose in global markets after the US building permits climbed to a 4 year high indicating demand may improve from the second largest user. At the Multi Commodity Exchange, copper for delivery in August rose by INR 1.20 or 0.29% to INR 416.15 per kilogram with a business turnover of 12,672 lots.
The November contract traded higher by INR 1.15 or 0.27% to INR 421.80 per kilogram with a business turnover of 1,018 lots.
Marketmen attributed the rise in copper futures to a firm global trend and increased demand in the spot market. Meanwhile, copper for delivery in three months advanced 0.4% to USD 7,475 per tonne on the London Metal Exchange.
