Copper Prices Traded Higher By 0.2 Percent

Copper prices traded higher by 0.2 percent at $5714/t on account of bargain hunting at lower levels. However, sharp upside was restricted as a suicide bomber killed 22 people, including children, in an attack on a crowded concert hall in Manchester, thereby pushing global investors towards less risky assets.

Further, China's trade data showed imports of refined copper in April slid by 41 percent from a year ago to 202,645 tonnes, the lowest since February, and were down by 18 percent from March's levels.

Also, the International Copper Study Group (ICSG) said in its latest monthly bulletin that the global world refined copper market showed a 93,000 tonnes surplus in February, compared with a 55,000 tonnes surplus in January. MCX copper rose by 0.6 percent to close at Rs.373.6 per kg on Tuesday.

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Suhani Verma

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