Copper prices rose further by Rs 1.40 to Rs 436.75 per kg in futures trade today as speculators enlarged their positions on the back of firming global trend.
Increased demand from consuming industries also supported the uptrend in copper futures prices. At the Multi Commodity Exchange, copper for August delivery rose by Rs 1.40, or 0.32%, to Rs 436.75 per kg, with a business turnover of 9,755 lots.
Similarly, the metal for November delivery gained Rs 1.35, or 0.31%, to Rs 442.65 per kg, with an open interest of 586 lots.
Market analysts said increased buying by speculators amid a firming global trend mainly led to the rise in copper prices at futures trade here. Meanwhile, copper in Shanghai climbed by 0.4% to 72,100 yuan a tonne.
