Let’s inspect copper and its various uses along with the copper price in India.
Before we begin with copper price today, let’s find out more about copper as a metal. It is a soft, malleable, as well as ductile metal. In addition, copper is characterized by very high thermal and electrical conductivity. By virtue of these features, copper finds extensive use as a conductor of heat and electricity.
Copper is also one of the few metals that is found in nature in a directly usable metallic form. Its use doesn’t end here. It is used as a building material in the construction industry, besides being a key constituent of various metal alloys, such as sterling silver used in jewellery. Copper compounds are a key ingredient of fungicides and various types of wood preservatives.
Overview of Prices
Due to a boost in the spot market that trades in financial instruments or commodities for immediate delivery, copper prices in India traded up by 65 paise, reaching Rs. 440 per kg in futures trade. As per analysis, this was also due to a rise in copper rates in the global markets.
Investors should definitely include copper futures and consider copper commodity prices in their investment portfolio as the metal has a unique market value because of its huge application base in the industrial sector. For instance, in the face of competition from other materials, copper continues to remain the most preferred electrical conductor in most categories of electrical wiring.