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Weekly Copper Review: MCX Futures Ease Under Rs 450 Per Kg
(16-Mar-2019, 16:12 Hours IST)
COMEX Copper futures eased last week on weak Chinese economic data. The red metal had edged up earlier on media reports that major global producer Codelco is facing delays in bringing back refined copper smelting at its Chuquicamata plant. However, China's industrial output rose by 5.3% year on year in the first two months of this year, recording its lowest level in 17 months. The foreign trade data has also been weak for the world's second largest economy and COMEX Copper found it difficult to hold onto gains amid these cues. The commodity ended around $2.90 per pound. MCX Copper futures fell under Rs 450 per kg levels and ended around Rs 446 per kg with the strength in INR keeping a further check on the metal.

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