Tuesday, 16 May 2017

EPIC RESEARCH MCX COPPER UPDATE OF 16 MAY 2017

Copper trading range for the day is 358.5-365.3.Copper edged higher as the dollar dropped, but gains were dampened by evidence that China's economy encountered a soft patch in April.China's factory output growth cooled, rising 6.5 percent in April from a year earlier, while fixed-asset investment grew 8.9 percent in the first four months this year. Hedge funds and other money managers slashed their net long position in COMEX copper to the lowest since November in the week ended May 9, CFTC data showed.

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