Achiievers Equities report on Copper
Copper trading range for the day is 384.4-402.
Copper prices dropped as profit-taking continues and global risk-on sentiment pauses.
China’s imports of refined copper tumbled by 44.7 per cent year-on-year to 189,812 tonnes in October, a new low in three and a half years.
Despite a year-on-year drop in October, imports totaled 2.99 million tonnes from January to October, up 3.32 per cent year-on-year.
SELL COPPER NOV BELOW 390 SL ABV 394.80 TGT 387.20-384.40. MCX.
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