Continuing yesterday's upward journey, copper rose by another Rs 0.25, or 0.08 per cent, to Rs 306.35 per kg in futures trade today as speculators engaged in building up fresh positions, driven by the firming trend on the London Metal Exchange.
Better demand from consuming industries in physical markets also supported the upside in copper futures prices.
At the Multi Commodity Exchange platform, copper for August contract delivery gained Rs 0.25, or 0.08 per cent, to Rs 306.35 per kg, with a turnover of 22 lots. It ended 0.50 per cent higher at Rs 306.10 per kg in the previous session.
The metal for delivery in far-month November contract was also being traded higher by Rs 0.20, or 0.06 per cent, at Rs 309.45 per kg, in a turnover of one lot.
Analysts said the positive sentiment in global markets and a pick-up in demand in the domestic physical market influenced metal prices in futures trade here.
Meanwhile, three-month copper was being traded 0.3 per cent higher at $6,485 per tonne at the London Metal Exchange. PTI SUN RS KPS ARV
