PTI reported that spurred by a firming trend in the overseas market, copper prices rose 0.50% to INR 424.55 per kilogram in futures trade.

At the Multi Commodity Exchange, copper for delivery in February moved up by INR 2.10 or 0.50% to INR 424.55 per kilogram with a business volume of 3,656 lots. Similarly, the metal for delivery in April gained INR 2 or 0.47%, to INR 428.10 per kilogram with a trade turnover of 476 lots.

At the London Metal Exchange, copper for 3 month delivery gained 1.2% to 8,455.25 per tonne the highest price since September 19.

Market analysts attributed the rise in copper prices at futures trade to a firming trend at the LME, where it soared to over 4 month high on dwindling stockpiles.

Meanwhile, inventories monitored by the LME fell for the 15th session to 342,250 tonne, the lowest level since September 25th 2009.

(Sourced from Press Trust of India)