Copper futures trade steady at Rs 618.60 per kg in evening trade
In the futures market, copper for January delivery touched an intraday high of Rs 622.20 and a low of Rs 617.85 per kg on the MCX.
Mumbai / January 07, 2021 / 05:25 PM IST
Copper prices trade flat at Rs 618.60 per kg on January 7 as participants increased their long positions as seen by the open interest. The base metal traded in the green in the evening session after a gap-up open.
Copper prices were getting support from declining inventories at LME and SHFE accredited warehouses and supply concerns from Peru. The three-week-long blockades by locals prevented Peru’s Las Bambas mine export of 189,000 tonnes of copper concentrates. The mine accounts for 2 percent of the global copper supply.
Copper in unchartered territory as prices hit lifetime high
In the futures market, copper for December delivery touched an intraday high of Rs 610.80 and a low of Rs 605.30 per kg on the MCX.
Mumbai / December 17, 2020 / 06:37 PM IST
Copper prices traded firm at Rs 609.60 per kg on December 17 after hitting a lifetime high of Rs 610.80 during the day on the MCX. The base metal traded in the green in the evening session after a gap up opening on a weaker dollar.
Copper prices were supported by declining inventories at LME and SHFE accredited warehouses and positive economic data from China and the US. Copper stocks are down nearly 30 percent since the middle of October.
Copper Futures Trade Flat At Rs 602 75 Per Kg On Lower Stock, Weak Dollar moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.