Last Updated : March 22, 2010 15:40
LME Copper trades lower at $7,435 , inventory drops
The LME 3-month forward
Copper traded mostly lower for the day as market factors were mixed.
Prices ticked low by 0.68% to $7,435 per tonnes, with intraday high of $7,550 per tonnes.
The London Metal Exchange maintained copper inventory saw an outflow of 1,200 tonnes to closing levels of 522,975 tonnes.
The cancelled warrants ratio, material earmarked for delivery rose to 0.042 as the prior day’s levels of 0.041.
As per the World Bureau of Metal Statistics, the global
Copper market recorded an 86,900 tonnes surplus in January, with refined copper production of 1613K tonnes and consumption of 1526.
1K tonnes. World copper mine production in January was 1.29 million tonnes, 2.6% higher than in the same month last year.
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