Wednesday, 12 July 2017

EPIC RESEARCH MCX COPPER UPDATE OF 12 JULY 2017

Copper trading range for the day is 376.6-386.2. Copper prices rose after a rapid build-up of inventories that has weighed on the market since late June halted and workers voted to strike at a mine in Chile, raising supply concerns. Workers at the Zaldivar copper mine in Chile, voted to approve a strike on Monday after talks with the company failed. Rodrigo Valdes, Chile’s Finance Minister, said the Ministry raised the average copper price forecast from $2.20 to $2.50 per pound as demand has shown signs of improving.

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