Taking positive cues from global markets amid rising spot demand, copper futures prices today rose by 0.60% to Rs 426.45 per kg.
At the MCX, copper for delivery in June rose by Rs 2.55, or 0.60%, to Rs 426.45 per kg, with a business turnover of 4,412 lots.
The August contract was up by Rs 2.50, or 0.58%, at Rs 430.80 per kg, with a trading volume of 306 lots.
Globally, copper for three-month delivery rose by 1.4% to $7,742.75 a tonne at the London Metal Exchange (LME), while at Shanghai, it climbed 1.1% to 56,000 yuan ($8,830) a tonne.
Analysts attributed rise in copper prices to a firming trend overseas.
Easing concerns in Greece about the country leaving the currency bloc and reports of falling copper stockpiles in China led prices higher today.
opper inventories monitored by the Shanghai Futures Exchange slumped for the seventh week, the longest streak in a year.
Falling stockpiles indicates metal marked for delivery in the physical market, thus indicating a rise in demand.
