Posted by aditi on 12:26:00 with No comments
Copper trading range for the day is 366-387.2. Copper prices dropped after update as workers at the world’s largest copper mine, BHP Billiton’s Escondida in Chile, ended their strike. SHFE copper stocks saw a large 12,694 draw from warehouses in the latest week, bringing stocks down to around 312,500 tonnes, the lowest since the start of the month. Hedge funds and money managers boosted their bullish position in copper futures and options by 2,231 lots to 54,680 in the week to March 21.
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