EPIC RESEARCH MCX COPPER UPDATE OF 9 AUGUST 2018

Copper trading range for the day is 413.2-424. Copper settled flat after the dollar weakened against a basket of major currencies as its recent rally fuelled by U.S.-China trade tensions appeared to fizzle. Downstream restocking, and greater demand from rod producers lowered copper inventories across SHFE warehouses to the current six-month low. Customs data also showed that imports of unwrought copper and copper products in July grew 15.9% from a year ago and stood at 452,000 mt.

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