Wednesday 16 October 2019

Copper Remained Under Pressure On Profit Booking As The Market Refocused

Copper trading range for the day is 440.8-445.2.

Copper remained under pressure on profit booking as the market refocused on fundamentals after bullish sentiment about US-China trade and Brexit eased.

China's factory gate prices declined at their fastest pace in more than three years in September.

Chile's Codelco, the world's largest copper producer, said it is evaluating the closure of its Ventanas copper smelter in a polluted coastal region.

Warehouse stock for Copper at LME was at 274975mt that is down by -2375mt.

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