Copper futures traded higher on MCX as speculators enlarged positions amid a better trend in base metals at the domestic spot markets on pick-up in demand from consuming industries. Further, positive global cues as expectations of rising demand in China and a weak dollar lifted markets too fuelled the uptrend.
The contract for August delivery was trading at Rs 409.70, up by 0.91% or Rs 3.70 from its previous closing of Rs 406.00. The open interest of the contract stood at 19529 lots.
The contract for November delivery was trading at Rs 416.10, up by 0.92% or Rs 3.80 from its previous closing of Rs 412.30. The open interest of the contract stood at 2624 lots on MCX.