EPIC RESEARCH MCX COPPER UPDATE OF 13 JULY 2018

Copper trading range for the day is 416.8-428.4. Copper recovered on short covering after prices dropped as trade tensions between the United States and China undermined confidence in demand for metals. China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute. The domestic price spread between scrap and refined copper narrowed to 100 yuan/mt, indicating a weaker substitution of scrap for the refined metal.

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