Copper Prices Climb on MCX Amid Global Market Optimism

Copper futures on the Multi Commodity Exchange (MCX) rose for the second consecutive session, driven by optimism over demand and a firm global market trend. The September delivery of copper futures increased by Rs 1.85 to Rs 1,396.20 per kilogram.

The price rise is attributed to sustained buying in domestic futures mirroring gains in overseas markets. International copper futures on the London Metal Exchange (LME) and Comex also saw gains, with LME copper rising USD 79.82, or 0.56%, to USD 14,365 per tonne.

Analysts are monitoring global manufacturing activity and supply-side trends for further direction in copper prices. Market participants are closely watching developments in major consuming economies as they impact demand prospects.