EPIC RESEARCH MCX COPPER UPDATE OF 2 MAY 2018

Copper trading range for the day is 445.3-458.7. Copper prices dropped due to worries about demand from top consumer China and a stronger US dollar ahead of a monetary policy decision from the Federal Reserve. Construction activity is going to be more subdued this year because of the curbs on lending by the Chinese government to control the property market bubble. Data from Chinese banks suggest that the campaign to clamp down on riskier lending practices and shadow banking without stunting economic growth may be succeeding.

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