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Tuesday, 24 January 2017

EPIC RESEARCH MCX COPPER UPDATE OF 24 JANUARY 2017

Copper trading range for the day is 392.6-402.6. Copper gained to hold 398 level on uncertainty over Trump's policies which sent the dollar to a 1-1/2 month low. China's Lunar New Year holiday, starting Jan. 27, is expected to subdue metals demand as Chinese factories close, for two to three weeks. Top copper exporter Chile is seen producing 5.79mtns in 2017, a 4.3% increase due to increased output at BHP Billiton's massive Escondida mine.

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