Thursday, 2 August 2018

EPIC RESEARCH MCX Copper UPDATE OF 2 August 2018

Copper trading range for the day is 402.9-435.3.

Copper dropped on fears of slower demand due to renewed U.S.-China trade tensions and worries about slowing growth in top metals consumer China.

Also weighing on sentiment was data showing that China’s manufacturing sector grew at the slowest pace in eight months in July as export orders declined.

The union at Escondida, said that an early, partial vote count on a final contract offer suggests its members will reject the offer and approve a strike.

Warehouse stock for Copper at LME was at 251950mt that is down by -2475mt.

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