Hindustan Copper Surges Amid Rising Global Copper Prices

Hindustan Copper shares rose as much as 3.6% to Rs 580.50 on Friday, driven by global copper prices edging higher due to a weaker US dollar.

The London Metal Exchange (LME) benchmark three-month copper price increased 0.53% to $14,111.50 per tonne, while the most-traded copper contract on the Shanghai Futures Exchange gained 0.36% to 107,570 yuan per tonne.

Copper supply tightness is showing signs of easing, with LME-monitored warehouses seeing a 17% increase in inventories to 239,925 tonnes from August 14.

Hindustan Copper has also attracted buying interest from technical analysts. The stock broke out above the Rs 550 resistance zone with positive price action and rising volumes.