Wednesday, 24 May 2017

EPIC RESEARCH MCX COPPER UPDATE OF 24 MAY 2017

Copper trading range for the day is 367.6-376.8.Copper gained as support seen after update workers at the giant Grasberg copper mine at Freeport McMoRan Inc will extend a strike for a second month. The global world refined copper market showed a 93,000 tonnes surplus in February, compared with a 55,000 tonnes surplus in January, the ICSG said.Hedge funds and other money managers increased their net long position in COMEX copper in the week ended May 16, U.S. CFTC data showed.

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