MUMBAI (Commodity Online): Copper majors including Sterlite Industries India Ltd (BOM: 500900), Hindustan Copper Ltd (BOM: 513599) and Hindalco Industries Ltd (BOM: 500440) recorded sharp gains on BSE as copper prices edge upwards on the Indian Commexes.

Sterlite Industries gained over 7% to Rs.863 on the BSE today. The stock continued its upward journey throughout the day and touched the intra-day high of Rs.869 during the day.

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Hindustan Copper Ltd too witnessed an uptrend as the stock rose by over 3.5% at Rs.290.80 during the day. Birla gourp major, Hindalco Industries traded firm at Rs.130.05 up by 2.5% on the Bombay Stock Exchange today.

Copper prices on the Indian commexes remained up at Rs.306.5 per kg for MCX November contract. The upbeat mood in the prices was attributed to the improved market sentiments in countries like China and Europe.

However, the Chinese demand for copper has been on the rise, which showed that the Chinese copper imports topped in the month of October 2009. The trend is expected to be continued for the current quarter.

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