The 28% surge in copper over the past one month to $4,500 a tonne levels on LME has failed to cheer small and mid-sized manufacturers and traders in the local spot market.

Rohit Shah, partner, Suraj Extrusion, and past president of BME, stated:

I had contracted copper cathodes at $6,500 a tonne, and even though prices are up by $1,000, it does not help lift my margins.

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