Copper prices rose by 0.52% in futures trade today as speculators engaged in enlarging positions amid a firming trend overseas and pick up in spot market demand.
At the Multi Commodity Exchange, copper for delivery in far-month February traded higher by Rs 2.35, or 0.52%, to Rs 454.55 per kg, with a business turnover of 654 lots.
November copper edged up by Rs 2.30, or 0.51%, to Rs 449.90 per kg, with a business turnover of 7,613 lots.
Marketmen said a firming trend overseas, boosted by hopes that China and the US will roll out more stimulus programmes to boost economies, raised the demand outlook for industrial metals, influencing copper futures here.
Meanwhile, copper for December delivery climbed 0.8% to $8,008.25 per tonne on the London Metal Exchange, breaking above the $8,000 for the first time since May 14.
At Shanghai Futures Exchange, the metal for the December contract shot up 2.6% to 58,130 yuan ($9,200) per tonne, its highest since May 4.
