Meanwhile, Chinese Yangshan copper import prices have decreased from $50 in mid-March to $35.50 perton, indicating a lackluster market for the foreign metal.
According to the nations INE statistics agency, copper production in Chile. The biggest producer in the world, decreased 3.7% year over year to 384.462 tonnes in February.
The new prices are less expensive than the projected charges for the first quarter of this year. Which were established at ninety-three per tonnes and 9.3 cents per pound.
Currently, copper is receiving support at 774.50. And a move below that level could result in a test of 769.50 levels. Resistance is now expected to be seen at 783.40. And a move above could result in prices testing 787.00.