Copper rises on MCX

Posted By: Religare
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Copper futures rose at the Multi Commodity Exchange (MCX) as a result of the surge in the spot demand tracking the steady trend at the London Metal Exchange (LME).

At the MCX, copper future for November 2011 contract is trading at Rs. 346.20 per 1 kg, up by 1.63%, after opening at Rs. 341.50 against the previous closing price of Rs. 340.65. It touched the intra-day high of Rs. 347.75 till the trading. (At 2.20 PM today).

Copper mine production was up nearly 2%, from 15.805 million MT in 2009 to16.099 million MT in 2010.

While Chile accounts for 34% of the total world copper mine production, Peru, USA, China, Australia and Indonesia, together are responsible for around 32%.

India's production of refined copper is approximately around 4% of the total world production and in terms of figures it is around 600,000 MT.

Read more about: copper, futures, mcx
Story first published: Wednesday, October 5, 2011, 23:30 [IST]
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