Copper prices surged by 1.12 per cent to Rs 422.70 per kg in futures trading today as speculators raised bets, driven by pick up in demand in the spot market.
At the Multi Commodity Exchange, copper for delivery in August rose by Rs 4.70, or 1.12 per cent to Rs 422.70 per kg in business turnover of 2,571 lots.
Similarly, the metal for delivery in November gained Rs 4.35, or 1.02 per cent to Rs 429.50 per kg in 57 lots.
Market analysts said building of positions by participants on the back of surging demand from consuming industries in the physical markets, mainly led to rise in copper prices at futures trade.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)