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Copper dropped as BHP Billitons Escondida mine in Chile

Copper dropped as BHP Billitons Escondida mine in Chile

Copper trading range for the day is 381.3-399.3. Copper dropped as BHP Billitons Escondida mine in Chile, has resumed work as the company has requested government mediation to avoid a looming strike. The latest data from the International Copper Study Group (ICSG) showed the refined market recorded a surplus of 48,000 tonnes in October.SHFE stocks at 212,925 tonnes are down from their peak of 394,777 tonnes from late in...
Copper prices dropped as optimism over U.S. President Donald Trump’s capacity

Copper prices dropped as optimism over U.S. President Donald Trump’s capacity

Copper trading range for the day is 388.9-409.5. Copper prices dropped as optimism over U.S. President Donald Trump’s capacity to drive economic growth faded. Copper last week neared the $6,000 a tonne mark, supported by a drawdown in LME inventories this year. Hedge funds and money managers added to their net long positions in copper futures and options in the latest week, data from the U.S. CFTC...
Dollar strength hurts copper futures, 27 January Update

Dollar strength hurts copper futures, 27 January Update

Copper futures fell over 1% during evening trade in the domestic market on Friday as investors & speculators exited their positions in the industrial metal on strength in the US dollar & slow trading in Asian markets with the world’s biggest industrial metals consumer, China shut for the week-long Lunar New Year holiday. Further, a rally in copper prices was spurred by fears over potential disruption of supply from Indonesia & Chile. A stronger dollar makes dollar-denominated assets such as copper costlier for holders of other currencies. At the MCX, copper futures for February 2017 contract is trading at Rs 401.20/kg, downward by 1.41 %, after opening at Rs 405, against a last closing of Rs 406.95. It touched the intra-day low of Rs...
Copper steadied after prices dropped when U.S. President-elect

Copper steadied after prices dropped when U.S. President-elect

Copper trading range for the day is 390.6-397.4. Copper steadied after prices dropped when U.S. President-elect Donald Trump rattled investors by saying the dollar was too strong. Chinas economy likely grew by a steady 6.7 percent in the fourth quarter, the same pace as in the previous three quarters Barclays raises 2017 copper price forecasts to $5,458t (248 clb) and iron ore to...
Copper futures Rose up by 0.28% on China Demand growth hopes

Copper futures Rose up by 0.28% on China Demand growth hopes

Copper futures increased during afternoon trade in the domestic market on Monday as investors & speculators extended their positions in the industrial metal on pick up in physical desired from consuming industries amid optimism that the world’s 2 biggest economies, the US & China, will ramp upward fiscal spending to boost slowing growth. Further, the prices of copper grew on hopes that the US President-Elect Donald Trump’s plan to boost US infrastructure may lift demand in China. At the MCX, copper futures for February 2017 contract is trading at Rs 377.85/kg, upward by 0.28 %, after opening at Rs 380, against a last close of Rs 376.80. It touched the intra-day max of Rs...
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