The LME 3-month forward copper traded sideways during the day as the market was supportive, while fall in the evening as the dollar index strengthened.

Prices end the day at $7,470 per tonnes, low by 0.99%. The London Metal Exchange maintained inventory reported copper to shed 1575 tonnes to the prior total of 541,575 tonnes.

The cancelled warrants ratio, material earmarked for delivery lowered to 0.055 as compares to prior day levels at 0.057.

Russia's Urals Mining and Metals Co expect refined copper output to reach 356,918 tonnes, up 8% from 2009 where output totaled 330,129 tonnes.

UMMC would invest $67.1 million in new equipment as part of a $130 million project to raise annual output to 500,000 tonnes between 2012 and 2014.

Courtesy: Karvy Commtrade Ltd.

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