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Wednesday, 24 October 2018

EPIC RESEARCH MCX Copper UPDATE OF 24 October 2018

Copper trading range for the day is 443.5-457.1.

Copper prices dropped on concerns of slowing demand in China and as geopolitical tensions escalated over the killing of a prominent Saudi journalist.

China's copper import premiums are at $117.50 a tonne, just below the recent three-year high of $120 a tonne, indicating strong demand for physical metal.

LME copper stocks at 154,225 tonnes have tumbled 27 percent since Sept. 24, while those in ShFE are up about 27 percent over the same period.

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