Copper futures today staged a comeback to trade in the positive zone and gained 1.47 per cent on the Multi Commodity Exchange on revival of buying by speculators after the metal strengthened in the overseas markets. At 1715 hrs, copper for the most-active August month contract shot up by 1.47 per cent to Rs 235.20 per kg in trading of 75 lots at MCX counter. The metal prices dipped to Rs 228.80 per kg in early trade. A similar trend was extended to April month contract which rose by 1.43 per cent to Rs 231 per kg after touching a low of Rs 225.30 kg in a trading volume of 66,481 lots. Marketmen said trading sentiment in copper turned better after reports that the metal rose in London. Meanwhile, copper for three-month delivery rose 15 US dollar, or 0.3 per cent, to 4,555 US dollar a metric ton at noon on the LME. Analysts attributed the recovery in copper prices to fall in LME-monitored warehouses inventories, which shrank to 4,40,475 tons today, and short-covering by speculators.

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