NEW DELHI, Aug 7: Buoyed by a firm global trend and increased domestic demand, copper prices rose 0.38 per cent to Rs 431.55 per kg in futures trade today, as participants created speculative positions.
At the Multi Commodity Exchange, copper for delivery in August traded higher by Rs 1.65, or 0.38 per cent, to Rs 431.55 per kg in business turnover of 791 lots.
Metal for delivery in far-month November contracts edged up by Rs 1.50, or 0.34 per cent, to Rs 439.10 per kg in 8 lots.
Globally, copper for delivery in three months rose 0.70 per cent to USD 7,015.25 a tonne on the London Metal Exchange (LME).
Analysts said apart from increased demand at domestic spot markets from consuming industries, a firming overseas trend after stockpiles fell to a six year low and before trade data from China, the biggest user of industrial metals, mainly influenced copper prices at futures trade here.
Meanwhile, copper stockpiles tracked by the LME fell for the 12th day to 144,350 tons, the lowest since July 2008. (PTI)
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