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Continuing its price rise, copper today elevated further by 0.18% to Rs 422.45 per kg in futures trade as speculators enlarged their positions on the back of a firming trend overseas after a report showed manufacturing rebounded in the US.
At the Multi Commodity Exchange, copper for delivery in November edged up by 75 paise, or 0.18%, to Rs 422.45 per kg in business turnover of 155 lots.
Likewise, copper for delivery in August traded higher by 65 paise, or 0.16%, to Rs 417.80 per kg in 2,320 lots.
Market analysts attributed the rise in copper futures to a recovery in the global market where it rebounded after a report showing manufacturing in June rebounded in the US, the world's biggest metals consumer after China.
Also, pick-up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper rose 3.4% to $6,979 a tonne on the London Metal Exchange.
