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Friday 12 October 2018

EPIC RESEARCH MCX Copper UPDATE OF 12 October 2018

Copper trading range for the day is 442.1-470.1.

Copper remained under pressure tracking a broad sell-off on equity markets as a gloomy macro-economic outlook raised concerns over demand growth.

BHP, expects a plant at its Olympic Dam mine to restart this month following repairs.

The International Monetary Fund cut China's 2019 growth forecast to 6.2 percent from 6.4 percent, leaving the 2018 forecast unchanged at 6.6 percent.

Warehouse stock for Copper at LME was at 170100mt that is down by -3400mt

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