Copper ended the session on 15 Feb 2017 at INR 404.70 per kg. Copper remained trading sideways even as there were constant threats looming in regards to supplies. Shares in Freeport McMoRan Inc, the world's largest listed copper miner, were down 1% in pre-market trading this week on the company's decision to halt operations at its Grasberg mine in Indonesia. Copper has rallied lately as a result, hitting its highest levels since May 2015 overnight. 

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Freeport's Grasberg mining complex is responsible for more than a quarter of the Phoenix, Arizona-based company's total output. Freeport was trying to reach a deal with the government of Indonesia to resume exports and previously said that each month of delay in obtaining such approval meant production would be reduced by 70 million pounds of copper and 70,000 ounces of gold. However, there was no deal that has been reached so far.

The miner's overall consolidated sales for 2017 are expected to be around 4.1 billion pounds of copper, 2.2 million ounces of gold and 92 million pounds of molybdenum, including 1.0 billion pounds of copper, 460,000 ounces of gold and 23 million pounds of molybdenum for first-quarter 2017.