Copper prices post gains for a second month - Geojit

Copper prices in major global platforms were on track of a second straight monthly gain as expectations of economic stimulus from top consumer China spurred buying. Besides, depleting inventories across major warehouses also factored the prices surge. Meanwhile, mounting U.S.-China tensions over Hong Kong restricted major gains.

The copper futures prices in LME platform gained 1.66 percent during the last week and settled at $5376.5 per metric tonne. COMEX copper futures gained 0.73 percent WoW and closed at $2.4265 per lbs last week.

Copper prices in SHFE closed at CNY44290 per metric tonne gaining 0.80 percent in the last week. The most active futures in MCX declined by 0.68 percent and closed at Rs.409.95 per kg.

Source : Equity Bulls

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