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Supported by a firming trend in the global markets, copper prices today rose by 0.47% to Rs 427.70 per kg in futures trade as speculators indulged in enlarging positions.
At the Multi Commodity Exchange, copper for delivery in November edged up by Rs 2, or 0.47%, to Rs 427.70 per kg in business turnover of 103 lots.
Likewise, the metal for delivery in August traded higher by Rs 1.85, or 0.44%, to Rs 421.90 per kg in 1,899 lots.
Marketmen attributed the rise in copper futures to a firming trend in base metals at the London Metal Exchange (LME) after China's economic growth in the second quarter met analysts' expectations.
Also, pick-up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper rose 0.5% to $6,985 a tonne at the LME, while on the Shanghai Futures Exchange, the metal for delivery in November rose 1% to 50,190 yuan ($8,176) a tonne.
