MTECHTIPS:- Copper to trade in 351.4-361.6

MTECHTIPS:- Copper to trade in 351.4-361.6

MTECHTIPS-Copper trading range for the day is 351.4-361.6. Copper slid after data showed a sharp drop in imports in April into China, feeding pessimism over demand following hefty inflows into LME inventories last week. China’s April copper imports fell 30 percent month on month to 300,000 tonnes, data from the General Administration of Customs showed. Copper inventories in LME warehouses dipped by 3,100 tonnes, exchange data showed, after surging more than 100,000 tonnes in the previous three days. SELL COPPER JUN 2017 @ 359.00 SL 362.00 TGT 356.50-354.00. MCX.

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