Gary Whitton/Adobe Stock
Global copper mine production during the first nine months of the year fell 1%, the International Copper Study Group (ICSG) reported.
Furthermore, the global copper market posted an apparent deficit of 387,000 metric tons during the period.
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Global copper mine production
Global copper mine production slipped by 1% during the first nine months of 2020. On the other hand, the fall is well below the 3.5% drop recorded during the months of April and May, when the first wave of coronavirus infections hit many parts of the world.
Copper price scale fresh lifetime high of Rs 617.45 per kg, expert see further gains ahead
Rising hopes of the additional stimulus package in the USA is currently rising with higher Chinese buying to improve the base metals prices in the international markets.
Mumbai / December 19, 2020 / 05:50 PM IST
Copper prices soared to settle at Rs 616.90 per kg on December 18 after hitting a fresh lifetime high of Rs 617.45 during the day on the MCX. The base metal extended gains after a gap up opening and close at the high point of the day.
Copper is steadily climbing up and is nearing its highest level in eight years in the global market as stockpiles around the world fell, the Fed promised to pump more money into the markets, and optimism of US stimulus package.