Tuesday, 27 June 2017

EPIC RESEARCH MCX COPPER UPDATE OF 27 JUNE 2017

Copper trading range for the day is 370.3-376.5. Copper dropped as the dollar firmed, but the metal held near the highs as expectations for upbeat Chinese demand and concern over mine supply lent support. Copper inventories in LME warehouses now down nearly 100,000 tonnes, or 28 percent, from their early May peak. Hedge funds and money managers cut their net long position in copper futures and options by 13,552 contracts to 49,285 in the week to June 20, U.S. CFTC data showed.

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