Hindustan Copper Raises Product Prices For August By 4%

MUMBAI, Aug 02, 2010 (Dow Jones Commodities News via Comtex) -- State-run Hindustan Copper Ltd. (513599.BY) Monday said it has increased its product prices for August by about 4% from July.

The company said it has provisionally priced its standard copper rods of 8 millimeters in diameter at INR351,493 a metric ton for August, up from INR337,677 last month.

Copper rods of more than 8 millimeters in diameter have been provisionally priced at INR352,494-INR354,995 per ton, compared with INR338,671-INR341,158 in July.

The price of copper cathode full for August has been provisionally fixed at INR345,489 per ton, higher than last month's INR331,708.

The company didn't give any reason for the rise in prices.

The three-month copper prices on the London Metal Exchange were up 1.3% at $7,384.50 per ton Monday. Copper has risen 12% in July over June due to an improved risk appetite and a positive demand outlook.