| Copper prices have retracted from lows of last month. Improving US housing market and a stronger Chinese consumption with the country’s Purchasing Managers’ Index rising to a seven month high of 50.8 in June, have all boosted sentiments. Following trends in the international market, the copper futures contract traded on MCX has also risen. It has rallied about 10 per from its low of ?394.55 per kg recorded on June 9.
The construction sector consumes about 30 per cent of the copper produced globally. The US housing sector, one of the major consumers of copper in the world influences copper prices..............................................Full Article: Source
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