Copper prices fell on Monday on a firmer dollar and on hopes for a speedy resolution of Europe's debt crisis waned, but the metal is on track for its biggest monthly rise since December. At the MCX, copper future for November 2011 contract was trading at Rs. 388.55 per 1 kg, down by 2.56%, after opening at Rs. 397 against the previous closing price of Rs. 398.75. It touched the intra-day low of Rs. 387.90 till the trading. (At 10.30 AM today).
At COMEX, copper futures for December 2011 contract traded at US$3.5765 per pound, down by 3.49 per cent, after opening at US$3.7405 against the previous closing price of US$3.7060. It touched the intra-day low of US$3.5675 with a business volume of 7,512 lots till the electronic trading. (At 12.12 AM CT today).
While Chile accounts for 34% of the total world copper mine production, Peru, USA, China, Australia and Indonesia, together are responsible for around 32%.
India’s production of refined copper is approximately around 4% of the total world production and in terms of figures it is around 600,000 MT.
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