MCX Copper Outperforms in November 2016

copperMCX Copper averaged at Rs 364 per kilogram at the end of November 2016 against Rs 314 per kilo in November 2015.

So far in the year 2016, Copper has gained 22 percent from Rs 298 per kilogram at the beginning of the year. The average position of Copper during same period last year was Rs 314 per kilogram.

In the meantime, International Copper is averaging nearly USD 5429 per tonne in November 2016, compared to usd 4808 per tonne in the month of November 2015, up 13 percent. The prices gained by 15 percent on a month on month basis from USD 5429 per tonne in the month of November 2016.

On London Metal Exchange, the metal is resisted at USD 5600 per tonne according to monthly technical charts. However, failure to move above resistance of USD 5600 can cause effective damage in the metal that can extend till USD 4800 per tonne.

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