Company reports higher-than-expected Q3 PAT at Rs 1,877 crore, up 77% YoY
The anticipated economic slump is likely to weaken their prospects
China, Japan, Korea, European Union (EU) are already importing copper concentrate at zero duty
LME copper prices started declining and have remained suppressed ever since the US-China trade war began
India has emerged as an importer of copper ore and concentrates and imports more than 90 per cent of its concentrate requirements due to lack of copper mines in the country
Commodity outlook and trading ideas by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls.
Reduced concentrate output globally and heightened demand from Chinese smelters are to adversely affect the supply of feedstock for Indian smelters
Global smelters are negotiating conversion charges which indicate a decline from 2017 levels
Losses are majorly due to non-payment of taxes by the market
Rio Tinto goes Genghis on the copper market