Amid a firming global trend and pick up in spot demand, copper prices moved up by 0.75 per cent to Rs 423.25 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in November was up by Rs 3.15, or 0.75 per cent, to Rs 423.25 per kg, in a business volume of 2,296 lots.
The far-month February contract gained Rs 3, or 0.71 per cent, to Rs 427.70 per kg, in a business turnover of 27 lots.
Marketmen attributed the rise in copper futures to a firming trend in base metals in global market as housing data from China showed continued gains for prices.
Rising demand from consuming industries at domestic spot markets supported the upside, they said.
China reported 8.3 per cent increase in house prices for August against 9.7 per cent in July.
Globally, copper futures for December delivery rose 0.81 per cent to USD 2.976 a pound on the Comex metals division of New York Mercantile Exchange.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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