EPIC RESEARCH MCX COPPER UPDATE OF 29 MAY 2018

Copper trading range for the day is 449.5-467.1. Copper dropped on a stronger US dollar as an US-North Korea meeting is likely to be held as scheduled. China’s central bank raised interest rates on 28-day reverse bond repurchase agreements by 5 bps, matching previous increases in other tenors in the last two months. Hedge funds and money managers raised their net long position in copper by 9,115 contracts to 34,248 contracts, CFTC data showed.

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