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After yesterday's plunge, copper futures recovered by 1.48% to Rs 350.75 per kg today as speculators enlarged positions largely in tandem with recovery in base metals at the London Metal Exchange (LME).
At the Multi Commodity Exchange, copper for delivery in February rose by Rs 5.10, or 1.48%, to Rs 350.75 per kg, with a turnover of 2,504 lots.
Similarly, the metal for delivery in far-month April was up by Rs 4.60, or 1.34%, at Rs 354.15 per kg, with a trade volume of 65 lots.
Globally, copper for delivery in three months rose 1.4% to USD 5,627.50 per tonne on the LME. The metal fell 5.3% to $5,548 a tonne yesterday, the lowest since July 2009.
Market analysts said fresh positions created by participants at prevailing levels and rebound in global markets, influenced copper prices at futures trade here.
