Profile image
Story Views

Last Hour:
Last 24 Hours:

MTECHTIPS:-Copper Charges Higher As Market Sentiments Revive

Monday, November 21, 2016 7:48
% of readers think this story is Fact. Add your two cents.

MTECHTIPS:-Copper Charges Higher As Market Sentiments Revive




Copper underpinned sharply by more than 1.91% on MCX platform. The metal tested a high of Rs 380.90 per kg and a low of Rs 372.40 per kg on Monday. When last seen Copper was exchanging hands at Rs 378 per kg. The likelihood of rising U.S. interest rates, better than expected China consumption this year and smaller growth in mine supply for 2017 all played a part in improving the consensus views for copper’s outlook The Commitment of Traders (CoT) report was released last week. This report is expected to give direction to Copper prices in near future. The activity of Merchants was in favor of increasing long and short positions for the week ending 15 Nov 2016. On the other hand, increase was noted in long positions while decrease was noted in short positions of Money Managers. The long positions of Merchants were 26770 on 15 Nov 2016 against 25091 on 8 Nov 2016, while short positions increased to 100816 on 15 November 2016 against 96740 on 8 November 2016. Overall the net positions in case of merchants are favoring shorts by 74046. Commitment of Traders showed that the long positions of Money Managers increased by 4961. The total long positions of Copper for the one week period ending was 96999 on 15 November 2016 compared to 92038 on 8 November 2016. On the other hand, short positions of Copper was 26397 on 15 November 2016 compared to 32750 on 8 November 2016.

We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global


Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.