EPIC RESEARCH MCX COPPER UPDATE OF 3 JULY 2018

Copper trading range for the day is 445-455.8. Copper prices dropped as market priced in weaker demand in China, which is embroiled in the trade spat with the United States even as its manufacturing sector slows. China’s top copper smelters failed to set minimum treatment and refining charges for copper concentrate in the third quarter of 2018. Hedge funds and money managers cut their net long position in copper by 29,240 contracts to 22,061 contracts, CFTC data showed.

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