Posted by aditi on 12:11:00 with No comments
Copper trading range for the day is 373.8-387.6. Copper prices dropped below 380 levels on hopes that supply disruptions in Chile and Indonesia could be drawing to a close. Freeport McMoRan Inc's Indonesian unit has resumed production of copper concentrate at its giant Grasberg mine, ending a more than one-month stoppage. The global world refined copper market showed a 17,000-tonne surplus in December, compared with a 3,000-tonne deficit in November, ICSG said.
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