EPIC RESEARCH MCX COPPER UPDATE OF 08 AUGUST 2017

Copper trading range for the day is 401.9-416.7. Copper gained as soaring steel and iron ore prices in China brightened the outlook for growth and industrial demand. Premiums to obtain physical delivery of copper either in Shanghai or enroute to Shanghai fell, reflecting falling physical demand due to high prices. Hedge funds and money managers boosted their net long position in COMEX copper to a record high in the week to Aug. 1, CFTC data showed.

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