If You Are Interested Call Me Text Me On What’s App : 8791046700
Domestic copper prices, which had increased sharply over the past year, may drop gradually to average Rs 720-725 per kg in 2022-23, Crisil said on Thursday. The price of copper wire bars averaged Rs 738 per kg (ex-factory) in FY22, a 42 per cent rise year-on-year, with rates breaching Rs 800 per kg in March before retreating to Rs 790 perLockdown in China, the world’s top consumer of copper, in the wake of rise in COVID-19 cases, has weakened the demand for the metal, leading to prices zooming after a strong run-up over the past two years.The Russia-Ukraine war stoked the supply worries and drove prices up to a record USD 10,720 per tonne on March 7. This was despite China ramping up production of refined copper after the Winter Olympics ended on February 20.Then COVID-19 cases reappeared in China, stoking both demand and supply fears. The production of refined copper, which was being enhanced in the mainland, thus became available for exports. As a result, LME (London Metal Exchange) inventory doubled in April.CONTACT US:CONTACT NO.: 8791046700WHATSAPP: 8791046700WEBSITE: https://www.mcxranger.com/Visit Our Website:-Click On Below Link:-https://www.mcxranger.com/Join Our WhatsApp:- https://api.whatsapp.com/send?phone=918791046700Visit Our Facebook I’d:-https://www.facebook.com/profile.php?id=100070001792470