Hindustan Copper shoots up by over 7%

Surging to its highest level in more than two years, Hindustan Copper Ltd. created a buzz during Wednesday’s trade on the BSE and was trading up by over 7%. This spurt was triggered by expectations that demand in China will fuel a global shortage and amid plans by the nation to curb waste imports containing metals.
 
The stock has witnessed increase in volume by more than 5.89 times. Hindustan Copper was trading at Rs 70.35, up by Rs 4.15 or 6.28% as at 1235 hours on Wednesday, on the BSE. The stock has attracted traded volume of 29,50,769 shares and traded value of Rs 2,054.92 lakh on the NSE.
 
As has been the norm, Hindustan Copper sets benchmark copper prices among primary producers in India. Revised every month based on price movements on the LME, currency rates, transportation costs and demand in local markets, copper prices in India move in tandem with global markets.