EPIC RESEARCH MCX COPPER UPDATE OF 13 JULY 2016

Posted by Farhan Khan on 13:07:00 with No comments

LME Copper prices gained 2.5 percent on Tuesday to close at $4869/tonne as expectations of more stimulus rose after Japan’s Shinzo Abe announced fresh package post his victory in the Upper house on Sunday. Meanwhile, supply disruption concerns cropped up after workers at Anglo American's small El Soldado copper mine in Chile began a strike on Friday after failing to reach agreement in contract talks. Also, investor interest seemed to increase as US Commodity Futures Trading Commission (CFTC) data showed hedge funds and money managers turned net long in copper positions in the week to July 5. MCX copper prices traded higher by 2.8 percent on Tuesday to close at Rs.330.3 per kg.

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