PTI reported that Indian copper prices rose by INR 1.55 to INR 424.20 per kilogram in futures trading tracking a firm trend in the global markets.

Besides, pick up in domestic demand pushed up copper futures prices. At the Multi Commodity Exchange, copper for delivery in August rose by INR 1.55 or 0.37% to INR 424.20 per kilogram with a business turnover of 33,008 lots. November copper traded higher by INR 1.40 or 0.33% to INR 428.75 per kilogram with a business turnover of 12,862 lots.

Marketmen said that fresh positions created by speculators amid a firming global trend after reports that China, the world's largest consumer of metals is willing to invest in Europe's bond market, potentially easing the region's debt crisis and improving the outlook for metals demand influenced copper prices at futures trade. Meanwhile, copper rose 0.5% to USD 7,613.75 per tonne on the London Metal Exchange.

Source - Press Trust of India

(www.steelguru.com)