Copper was static in the trading session ending 26 April 2017. The prices of Copper were last seen at Rs 366.90 per kg, down 0.16%. The metal tested a high of Rs 367.20 per kg and a low of Rs 363.80 per kg.
Mining company Anglo American reported a 9 percent rise in overall production for the first quarter of 2017 compared with 2016, but copper output fell 3 percent because of poorer grades and a temporary suspension at the El Soldado mine in Chile.
Workers at mining company Southern Copper Corp in Peru have reached a deal with management to end a two-week strike, a union official.
BHP Billiton has cut its full-year copper production guidance and outlined plans to sell some of its US shale acreage. The mining giant on Wednesday reported a 44 per cent drop in third quarter copper production largely due to industrial action at its Escondida joint venture in northern Chile.
Total copper production for the nine months to March 31 was down 20 per cent on the same period a year ago and BHP now expects to produce between 1.33 million and 1.36 million tonnes for the full year - compared to the 1.62 million to 1.66 million tonnes forecast in January.
Nonetheless, BHP shares rose after chief executive Andrew Mackenzie confirmed plans to further streamline the company by selling acreage in the Eagle Ford shale region in the southern US state of Arkansas.
Powered by Commodity Insights