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Wednesday 20 February 2019

EPIC RESEARCH MCX Copper UPDATE OF 20 February 2019

Copper trading range for the day is 443.4-457.4.

* Copper prices rose on concerns that supply will tighten after a court ruling cast doubt on the future of a smelter in India.

* PT Freeport Indonesia’s copper concentrate export permit expired on Feb. 15, and the company has not received export recommendations.

* In LME-registered warehouses, copper stockpiles are near 13-year lows and LME time spreads have tightened rapidly, suggesting a shortage of nearby metal.

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