NEW DELHI, Oct 9: Copper prices rose 0.13 per cent to Rs 419.55 per kg in futures trade today as speculators enlarged positions after base metals strengthened in the global market amid pick-up in spot demand.
At the Multi Commodity Exchange, copper for delivery in February next year edged up by 55 paise, or 0.13 per cent, to Rs 419.55 per kg in a business turnover of two lots.
Likewise, the metal for delivery in November traded higher by 45 paise, or 0.11 per cent, to Rs 412.40 per kg in 642 lots.
Market analysts attributed the rise in copper futures to a firming trend in copper and other base metals in the global market on signs that the US Federal Reserve may hold back hike in interest rates, bolstering demand for commodities priced in the currency.
Also, pick-up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper for delivery in three months rose USD 49.50, or 0.80 per cent to USD 6,687 a tonne on the London Metal Exchange. (PTI)
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