Home > Research Prices > Copper Price decreases by 0.52% to 665.75 INR/KG on 24,Mar-21
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Copper Price decreases by 0.52% to 665.75 INR/KG on 24,Mar-21

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by RIM Research Team - 154 Views

Copper Price closes at 665.75 in MCX India with a decline for the third straight session

Nagercoil, India. The MCX Copper rates in India closed at 665.75 Rs/KG on Wednesday, March 24, compared to the previous close of 669.2, which is -0.0345% lower than the preceding closing price on Tuesday. The 30 session average copper rates are at 681.55, which is 15.8 higher than the closing price of 665.75 Rs/KG on Wednesday.
 
In a written response in the Lok Sabha, Union Minister of Mines, Coal and Parliamentary Affairs Pralhad Joshi said refined copper imports increased from 44,245 tonnes in 2017-18 to 92,990 tonnes during 2018-19 and 1.52 lakh tonnes (lt) in 2019-20. Similarly, exports declined from 3.78 lt in 2017-18 to 47,917 tonnes in 2018-19 and 36,959 tonnes in 2019-20, respectively.
 
“Consequently, there was a net import of 44,373 tonnes and 1,15,005 tonnes in 2018-19 and 2019-20, respectively, against net exports of 3, 34,310 tonnes in 2017-18,” the minister said.
 
Joshi said the closure of the UK-based Vedanta Group’s Sterlite Copper Plant in Thoothukudi since May 2018 affected domestic production of refined copper.
 
The copper plant, which has the capacity to produce four lakh tonnes of refined copper, was ordered shut by the Tamil Nadu government after protests demanding its closure turned violent on May 22, 2018.
 
Joshi said copper production in the country, due to Sterlite Copper Plant’s closure, dropped to 4.1 lt in 2019-20 from 8.3 lt during 2017-18. Refined copper output during 2018-19 was 4.5 lt. India’s import of refined copper has tripled between 2017-18 and 2019-20, while exports have declined by over 90 per cent during the period, the Centre informed Parliament on Wednesday, March 24, 2021.
 
The Year to Date price of Copper touched a high of 735.35 and a low of 588.2 INR. The Year to Date average price of Copper is 649.13. In MCX, the price of copper touched a month high of 716.75 (March 21) and a low of 665.75 INR. The monthly average price of copper for March is 681.21. The MCX Copper metal price edged lower of 0.0012% for the three consecutive days.

The COMEX (US Metal Exchange) - Copper rates closed at 4.0265 USD/lbs on Wednesday, March 24, compared to the previous close of 4.1445, which is -0.0012% lower than the preceding closing price on Tuesday. The Copper metal price ended with a loss of 0.0012% for the three consecutive days. The 30 session average copper rates are at 4.07, which is 0.04 higher than the closing price of 4.0265 USD/lbs on Wednesday, March 24. The Copper base metal ended with a gain of 0.04% for the 30 sessions. In COMEX Metal Exchange, the price of copper touched a month high of 4.208 and a low of 3.9535. The monthly average price of copper is 4.0898. The Year to Date price of Copper touched a high of 4.3215 and a low of 3.514. The Year to Date average price of Copper is 3.8524. The red metal price end with a loss of 0.0012% quoting at 4.0265 USD/lbs in the COMEX Metal Exchange (US).
 

MCX

MCX Yearly Copper Price Data

MCX High
735.35
MCX Low
381.95
MCX Avg
525.10

COMEX

COMEX Yearly Copper Price Data

COMEX High
4.3215
COMEX Low
2.162
COMEX Avg
3.0697

MCX Year To Date Copper Price Data

MCX High
735.35
MCX Low
588.2
MCX Avg
648.62

COMEX Year To Date Copper Price Data

COMEX High
4.3215
COMEX Low
3.514
COMEX Avg
3.8552

MCX Monthly Copper Price Data

MCX High
716.75
MCX Low
665.75
MCX Avg
681.34

COMEX Monthly Copper Price Data

COMEX High
4.208
COMEX Low
3.9535
COMEX Avg
4.0866
Category : Copper

Tags : Copper Prices