MTECHTIPS:- Copper to trade in 400.5-418.1

MTECHTIPS:- Copper to trade in 400.5-418.1

MTECHTIPS-Copper trading range for the day is 400.5-418.1. Copper climbed buoyed by a weaker dollar and talk that China’s appetite for refined metal could grow if it curbs scrap imports. China may ban imports of some scrap metal, including copper, from the end of 2018, which may lead to higher refined copper imports. The global world refined copper market showed a 53,000 tonnes deficit in April, compared with an 18,000 tonnes deficit in March, the ICSG said. BUY COPPER AUG 2017 @ 408.00 SL 404.00 TGT 412.00-415.00. MCX.

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