Copper rebounded to trade 0.87 per cent higher at Rs 376.25 per kg in futures trade today on firming trend overseas after the Federal Reserve said it will expand stimulus to revive the sluggish US economy.
At the Multi Commodity Exchange counter, copper for delivery in November rose by Rs 3.25, or 0.87 per cent to, Rs 376.25 per kg, with a business turnover of 7,824 lots.
In a similar fashion, the metal for delivery in February also traded higher by 2.90, or 0.78 per cent, to Rs 380.30 per kg, with a business turnover of 638 lots.
Analysts said reports of firming trend at overseas markets on hopes of pick up in demand for the commodities after the Federal Reserve announced it would pump in more stimulus into a struggling US economy, influenced copper futures prices here.
Besides, shrinking stockpiles, which declined 27 per cent this year at the London Metal Exchange, also supported the upside, they said.
