Copper prices rose by 0.40 % on Friday after French consumer confidence rose unexpectedly last month, official data showed on Friday signaling improved sentiment in the region which raised the demand for the metal. In a report, INSEE said that French Consumer Confidence rose to 98, from 94 in the preceding month. 

 Analysts had expected French Consumer Confidence to remain unchanged at 94 last month. At the MCX, copper futures for June 2016 contract were trading at Rs.314.35 per 1 kg, up by 0.40 per cent, after opening at Rs. 314.20 against the previous closing price of Rs. 313.10. It touched the intra-day high of Rs. 315.30 till the trading. (At 4.45 PM today). Prices also rose due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 2225 metric tonnes to 153750 metric tonnes as on May 27, 2016.

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