COPPER HIT ONE WEEK LOW AFTER STRIKE RESOLUTION TALKS RESUME

Gold Silver Reports – Copper has hit a one-week low as talks to resolve a strike at the worlds biggest copper mine in Chile were set to resume and production at another huge mine in Indonesia restarted. Perus copper production rose 24.8 per cent in January from the same month a year earlier while zinc output increased 11.3 per cent.

Traders said a weak trend in base metals in global market on worries about demand from worlds top consumer China were reinforced by expectations of ample supplies and higher inventories in exchange-monitored warehouses, mainly dampened sentiment.

Freeport stopped producing copper concentrate on Feb. 11 after Indonesia prevented it from exporting the material used to make refined copper, and its sole domestic buyer halted operations due to a strike.

Benchmark Copper ended at INR 379.15 per kg during the last session on 21 March 2017. It is interesting to note that the price was able to breach INR 380 per kg and tested low of INR 378.05 per kg. The high of copper was at INR 384.95 per kg. – Neal Bhai Reports 

COPPER HIT ONE WEEK LOW AFTER STRIKE RESOLUTION TALKS RESUME | Money Market Guru

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