EPIC RESEARCH MCX COPPER UPDATE OF 19 JULY 2018

Copper trading range for the day is 411.6-426. Copper prices gained on short covering but concerns of slowing growth in top metals consumer China limited gains. China’s economy expanded at a slower pace in the second quarter as Beijing’s efforts to contain debt hurt activity, while June factory output growth weakened to a two-year low. The discount of cash copper to the three-month contract has also grown from around zero at the start of July to $36, signalling greater availability of metal.

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