MCX Copper prices were up on Friday, supported by weakness in the Indian rupee. The red metal is hovering near its all-time peak of Rs 1,055.25 set this week as supply concerns keep the appeal of this base metal intact.
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Copper prices in the US moved above $5.20 per pound on Monday, hitting their highest level in four months. The rally came mainly due to tight global supply, higher premiums, and a continued rise in international demand.
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Copper Price Jumps to All-Time High: Why Is Copper So Expensive Now?
Copper price has gone up to its highest level ever. The market for copper is moving up and down a lot these days. This big price jump is happening because demand is strong while supply is less in many countries. Experts say traders and companies using copper in India should watch the prices closely to make smart decisions next.