CO:MCX Copper expected to trade in a range as LME market closed today
Ahmedabad (Commodity Online): MCX Copper February Future contract yesterday traded thin and settled .04% up at 407.15 per kg as LME market was close yesterday and will remain closed today also. On supply front, Freeport-McMoRan has signed a labour agreement with workers at it's Peruvian Cerro Verde Copper mine, three weeks after some 1000 labourers returned to work and ended the two month strike.
Today's session MCX Copper February contract opened down, providing guidance for SHFE Copper prices movements. Currently MCX Copper February future trading at 403.00 per kg with 1.01% down by 11:52 IST.
Red metal expected to trade in a red zone in today's session. Technically MCX Copper February contract support at 400 and resistance looks at 408.copper expected to trade in a range as LME market close today as well. And it's expected to trade in the above said range, says Ankush Kumar Jain, Research Analyst with Commodity Online
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