According to Achiievers Equities, Copper gained in response to a retreat in the U.S. dollar from its recent peaks and evidence of tightening supply.
Achiievers Equities' commodity report on Copper
Copper trading range for the day is 359.1-377.7.
Copper gained in response to a retreat in the U.S. dollar from its recent peaks and evidence of tightening supply.
The global world refined copper market showed a 5,000 tonnes deficit in March, compared with a 102,000 tonnes surplus in February, industry data showed.
National Bureau of Statistics (NBS) data showed China’s copper cathode output increased 6.8% on a yearly basis to 727,000 tonnes in May.BUY COPPER JUN 2017 @ 367.00 SL 364.00 TGT 370.50-374.00.MCX.
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