Copper updates – Copper Rises 0.32 pct on Bullish Demand
Copper prices rose by 0.32 per cent on Friday at the Multi Commodity Exchange (MCX) due to rising demand for the base metal in domestic spot market. Stabilizing demand in China, the biggest consumer of copper, also helped the raise the base metals future. At the MCX, copper futures for June 2016 contract were trading at Rs.309.45 per 1 kg, up by 0.32 per cent, after opening at Rs. 308.75 against the previous closing price of Rs. 308.45. It touched the intra-day high of Rs. 310.50 till the trading.
Prices also rose due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity.
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