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Copper prices surged by 3.99% to Rs 520.05 per kg in futures trade today as speculators created huge positions, tracking a firm global trend.
At the Multi Commodity Exchange, copper for delivery in November surged by Rs 16, or 3.25% to Rs 520.05 per kg in business turnover of 3,387 lots.
Similarly, copper for delivery in August shot up by Rs 16, or 3.25% to Rs 510.50 per kg in 8,299 lots.
Market analysts attributed the rise in copper futures to a firm global trend as China eased rules on overseas securities investments and after US consumer confidence added to signs of improving demand in the biggest economy.
Meanwhile, copper for delivery in three months rose 0.5% to 7,348 dollar a tonne on the London Metal Exchange.
