Hindustan Copper jumps with international copper prices, strong Chinese import data

NEW DELHI: Shares of Hindustan Copper ended 12.53 per cent higher on Thursday after copper prices hit a two-week high in global markets.

After a 3 per cent rally in overnight trade, copper prices traded 0.6 per cent higher on Thursday. The surge in Chinese import of copper in May has surprised the market, making traders take bullish stance on the commodity.

Hindustan Copper is India’s primary producer of copper and will benefit from China’s comeback.

Reacting to the development, the scrip gained 11.89 per cent to hit a high of Rs 53.10 on the BSE. The stock has slipped 12 per cent in the year so far.