Copper prices rose by Rs 4.90 to Rs 423.25 a kg in futures trade today as speculators enlarged their positions, driven by pick-up in demand in the spot markets amid firming global trend.
Trading sentiments improved after copper rose in global markets on speculations that China's interest-rate increases may be close to an end, boosting the demand outlook from the biggest consumer.
On the Multi Commodity Exchange, copper for delivery in April gained Rs 4.90, or 1.17%, to Rs 423.25 a kg, with a business turnover of seven lots.
June Copper rose by Rs 4.80, or 1.13%, to Rs 429.20, with a business volume of four lots.
Market analysts attributed the rise in copper prices to enlarging of positions by speculators, supported by a rise in demand in the spot market amid firming global trend.
Meanwhile, copper for three-month delivery advanced 1.1% to $9,493 a metric tonne on the London Metal Exchange.