EPIC RESEARCH MCX Copper UPDATE OF 21 February 2019

Copper trading range for the day is 448.8-462.8.

Copper prices gained following reports that Glencore will cut copper and cobalt production at its Mutanda mine.

The premium of cash over three-month copper spiked to $58, the highest since January 2015.

Copper stockpiles in LME-registered warehouses are near 13-year lows and LME time spreads have tightened rapidly, suggesting a shortage of nearby metal.

Warehouse stock for Copper at LME was at 139500mt that is up by 100mt.


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