Commodity Online
MUMBAI: Gaining by over 12% during last week, the copper prices soothed today on domestic as well as international commodity exchanges, but contradicting the trend, the Vedanta group copper maker, Sterlite Industries Ltd traded high on the bourses today.

Even as the other copper stocks traded in red during the day Sterlite Indistries Ltd had surged by 2.5% during the afternoon trading sessions at Rs. 251.55. However, it fell along with the sinking markets from its day’s high of Rs. 254.45 by the post lunch trading session.



Secondly, Copper prices had surged by over 12% during past one week on a positive sign of boosting economic activities across the globe. The prices had surged and touched a high of USD 3790 per MT in the international market, and Rs. 193.40 on the MCX yesterday. A decline in LME inventories by 4,850 tonnes is believed to have pushed the prices higher as expectations of Chinese buying came in.

Today, the spot prices remained firm; however, there was a fall in the Futures prices for April contract on MCX to Rs. 191.65 per kg. in the international market as well, the prices fell to USD 3708 per MT.

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