Copper rises on strong demand from China

LONDON (Scrap Monster): Copper futures at global markets rose on Wednesday on steady demand from China and well performing Asian equities.

Tracking the global cues copper futures at India’s Multi Commodities Exchange are also trading on a higher note.

Copper August contract is trading at Rs. 401.60 per Kg, up by 0.59 percent at 11: 10 IST.

The contract traded at a high of Rs. 402.00 per Kg and a low of Rs 399.90 per Kg for the time being. Volume traded is 6711 kg so far and open interest is 19205 lots as of now.

Three-month copper on the London Metal Exchange rose 0.6 percent to $8,880 a tonne by 0422 GMT, after losing 0.9 percent in the previous session.

The most-active November copper contract on the Shanghai Futures Exchange SCFc3 rose 0.5 percent to 66,800 yuan per tonne, after falling 1.2 percent in the last session.