BS reported that buoyed by a firm global trend and increased domestic demand, copper prices rose 0.35% to INR 488.65 per kilogram in futures trade as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in November traded higher by INR 1.90 or 0.35% to INR 488.65 per kilogram in business turnover of 2,327 lots. The metal for delivery in far month February edged up by INR 1.60 or 0.32%, to INR 495.30 per kilogram in 56 lots.

Globally, copper for delivery in three months climbed 2% to USD 7,245 per tonne on the London Metal Exchange the biggest gain since August 22 while at Shanghai Futures Exchange, it rose 0.40% to CNY 52,300 per tonne for delivery in December.

Market analysts said that apart from increased demand at domestic spot markets from consuming industries, a firming overseas trend after a manufacturing gauge in China, the biggest consumer of commodities, rose to a 16 month high, mainly influenced copper prices at futures trade here.