Amid a firm global trend and pick up in the spot market demand, copper prices rose by Rs 1.95 to Rs 421.90 per kg in futures trade today as speculators indulged in creating fresh positions.
Sentiment bolstered after copper climbed in the overseas markets as China, the world's biggest consumer of industrial metals, increased its railway spending plan for the second time this month, boosting demand prospects for the metal.
At the Multi Commodity Exchange, copper for delivery in August rose by Rs 1.95, or 0.46%, to Rs 421.90 per kg, with a business turnover of 10,941 lots.
November copper edged up by Rs 1.85, or 0.43%, to Rs 427.30 per kg in 671 lots.
Marketmen said besides the pick up in domestic demand, a firm global trend led to the rise in copper prices at futures trade.
Meanwhile, copper for three-month rose 0.6% to $7,590 a tonne on the London Metal Exchange.
