Posted by aditi on 12:25:00 with No comments
Copper trading range for the day is 355.2-369.2. Copper prices gained as investors, speculators and consumers resumed buying after recent losses, expecting increased seasonal demand. Prices also seen by news that Indonesian workers at U.S. mining giant Freeport McMoran Inc will stage a month-long protest against layoffs starting May 1. Rio Tinto cut its copper guidance to 500,000-550,000 tonnes from as much as 665,000 tonnes as a result of a strike at the Escondida mine in Chile.
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