EPIC RESEARCH MCX Copper UPDATE OF 9 August 2018

Copper trading range for the day is 413.2-424.

Copper settled flat after the dollar weakened against a basket of major currencies as its recent rally fuelled by U.S.-China trade tensions appeared to fizzle.

Downstream restocking, and greater demand from rod producers lowered copper inventories across SHFE warehouses to the current six-month low.

Customs data also showed that imports of unwrought copper and copper products in July grew 15.9% from a year ago and stood at 452,000 mt.

Warehouse stock for Copper at LME was at 249150mt that is up by 1100mt.

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