Base Metals Preview: MCX Copper Moves Well Above Rs 800 Per Kg

14 Mar 2022 , 12:36 AM

COMEX Copper eased after hitting all-time highs above $5 per pound last week but is witnessing steady moves amid tight inventories and firm Chinese demand. Chinas unwrought copper imports jumped 9.6% during the first two months of 2022 compared with the same period a year earlier, customs data showed on Monday. Arrivals of unwrought copper and copper products into top consumer China were 969,000 tonnes in January and February, up from 884,010 tonnes a year earlier, the General Administration of Customs said. Over January-February, Chinas imports of copper ore and concentrates grew by 10.2% on year to 4.18 million tonnes. MCX Copper futures moved up well above Rs 800 per kg mark on firm global cues.

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