Copper prices surged to a seven-week high at the MCX and NCDEX counter today on signs of improved economic activity, raising speculation demand will increase for the metal used in pipes and wires.
At the MCX, Copper February contract is trading higher by 7.78% at Rs 171.80 per kg (11.20 a.m., Tuesday) as against its previous close of Rs 159.40. Another April contract is also trading up by 6.89% at Rs 172.95 per kg. It opened at Rs 166 as against its earlier close of Rs161.80.
Similarly, far month June contract is moving northward, recording 6.35% fall in price at Rs 175.85 after opening at Rs 171.95 per kg.
Meanwhile, NCDEX also witnessed the same trend. Copper February contract is trading up by 7.31% at Rs 171.70 per kg after opening at Rs 169.10. Copper April contract is registering a growth of Rs 173.20 after opening at Rs 172.10per kg.
