Wednesday, 4 January 2017

EPIC RESEARCH MCX COPPER UPDATE OF 4 JANUARY 2017

Copper trading range for the day is 371-387. Copper dropped as a stronger dollar outweighed expectations of solid consumption in the United States and China, where economic data showed signs of improvement. Copper stocks were down 10,400 tonnes to 311,825 tonnes due to declines in Asia – this marked the eighth day of declines. Some participants have been surprised by the decreases as there had been talk of large arrivals into LME sheds by the end of 2016.

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