EPIC RESEARCH MCX Copper UPDATE OF 31 January 2019

Posted by Commodity Updates by Epic Research on 11:53:00 with No comments

Copper trading range for the day is 426.3-443.5.

* Copper prices rallied as support seen after 12,500 tonnes of cancellations cut on-warrant stocks in LME-warehouses to 104,950 tonnes.

* The Fed said it would be patient in lifting borrowing costs further this year as it pointed to rising uncertainty about the US economic outlook.

* China's imports of scrap copper from the United States rose in December from the previous month, customs data showed, snapping six straight months of declines.

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