EPIC RESEARCH MCX COPPER UPDATE OF 20 AUGUST 2018

Copper trading range for the day is 401.3-412.3. Copper prices recovered some on short covering but still prices ended with almost three percent losses on weekly basis as concerns eased about supply disruptions. The union representing workers of Chilean copper mine Escondida signed a new collective labor contract, ending the risk of a strike. Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 9.4 percent from last Friday, the exchange said. Warehouse stock for Copper at LME was at 258850mt that is up by 1450mt.

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