Easing supply concerns weigh on Copper
28/11/2014 11:23
Copper futures were trading lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal tracking a weak trend in the overseas market as a strike at the Antamina copper mine in Peru ended after three-weeks, dimming concerns over tighter global copper supplies. BHP Billiton and Glencore’s copper and zinc mine in Peru will resume operations next week following the end of a three-week strike. Antamina is the world’s sixth biggest copper mine. At the MCX, copper futures for November 2014 contract is trading at Rs. 400.85 per 1 kg, down by 0.69 per cent, after opening at Rs. 402.50, against the previous closing price of Rs. 403.65. It touched an intra-day low of Rs. 400.25. (At 11:12 AM).
28/11/2014 11:23
Copper futures were trading lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal tracking a weak trend in the overseas market as a strike at the Antamina copper mine in Peru ended after three-weeks, dimming concerns over tighter global copper supplies. BHP Billiton and Glencore’s copper and zinc mine in Peru will resume operations next week following the end of a three-week strike. Antamina is the world’s sixth biggest copper mine. At the MCX, copper futures for November 2014 contract is trading at Rs. 400.85 per 1 kg, down by 0.69 per cent, after opening at Rs. 402.50, against the previous closing price of Rs. 403.65. It touched an intra-day low of Rs. 400.25. (At 11:12 AM).
