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Wednesday, 8 February 2017

EPIC RESEARCH MCX COPPER UPDATE OF 8 FEBRUARY 2017

Copper trading range for the day is 387.8-396.2. Copper dropped as the dollar edged higher after a Federal Reserve official offered support for a March rate rise, while supply concerns underpinned prices. Global miner BHP Billiton said it plans to halt production after unionized workers initiate a strike scheduled to begin on Thursday. Potential monthly copper production losses from Grasberg and Escondida add up to 135,000 tonnes, accounting for 8% of world monthly copper production.

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