EPIC RESEARCH MCX COPPER UPDATE OF 13 MARCH 2018

Copper trading range for the day is 445.9-455.5. Copper dropped after a rise in inventories in LME warehouses of 10,000 tonnes to 321,125 tonnes suggested ample supply of the metal. Workers in the largest union at Antofagasta PLC's Los Pelambres copper mine in Chile rejected an offer for a new labour contract, paving the way for a strike. Speculators reduced bets on higher prices, with the net long in Comex copper falling to the lowest since November 2016.

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