Friday, 8 April 2016

Copper, Zinc and Base Metals Update by MarketMagnify

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LME copper prices are trading lower by 1.4 percent today at $4707/tonne as GFMS forecast a 150,000 mt surplus for both 2016 and 2017, as well as a fifth year of price declines. 

It also said the refined global copper market recorded a 363,000 mt surplus in 2015, up 41% from a 257,000 mt surplus in 2014. However, decline in LME stocks restricted sharp fall. On the 

MCX, copper prices plunged 1.6 percent trading at Rs.311.20 per kg in line with international trends.

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