EPIC RESEARCH MCX COPPER UPDATE OF 30 OCTOBER 2017

Copper trading range for the day is 436.4-458.2. Copper prices dropped after the U.S. dollar strengthened to a three-month high after the European Central Bank extended its bond purchases. On-warrant inventories available to the market in LME-registered warehouses fell by 5,975 tonnes to 163,250 tonnes, down from 221,875 tonnes in mid-October. The estimated supply shortage of global copper concentrates is 151,000 tonnes in 2017 and the figure in 2018 will be 104,000 tonnes, INSG said.

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