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Tuesday 23 October 2018

EPIC RESEARCH MCX Copper UPDATE OF 23 October 2018

Copper trading range for the day is 450-462.8.

Copper prices rose fuelled by a pledge from China's central bank that it would support firms with liquidity problems.

The pledge was followed by comments from Chinese President Xi Jinping that the ruling Communist Party would always support private-sector firms.

China is "multiplying its efforts to support the economy, and in particular, the infrastructure sector amid domestic and international headwinds," such as the trade war.

Warehouse stock for Copper at LME was at 154225mt that is up by 275mt.

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