Symbol: COPPER| Contract: Nov, 2015| Category: Metal
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Copper's Latest News
World shares headed for their best week in over a month on Friday, though alarm bells over global growth were ringing in metals markets as copper hovered at its lowest level since 2009 and nickel since 2003.
Hindalco Industries reported a 31 per cent growth in its standalone net profit for the September quarter. The net profit of the aluminium and copper producer increased to Rs 103 crore as compared to Rs 78 crore in the corresponding period a year ago.
Total income from operations dipped by 8 per cent to Rs 203.08 crore during the quarter as against Rs 220.80 crore in the year-ago period.
About 3.5 billion pounds ($5.33 billion) in market value was wiped off the firm, which is in the middle of a drive to sell assets and raise cash to help cut its $30 billion debt pile and protect its credit rating after a crunch in prices of its main products, copper and coal.
Shares slid on Tuesday, with Europe led lower by mining companies as copper prices fell on worries over Chinese demand, while the dollar rose to its highest in almost two weeks after Federal Reserve officials signalled US interest rates might rise this year.
Aditya Birla Minerals Ltd (ABML) on Monday said it will sell its closed Birla Mt Gordon (BMG) copper mine in Queensland, Australia to Lighthouse Minerals Holdings Pty Ltd for around $10.75 million.
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|CRUDE PALM OIL||30-11-2015||0.13%|
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