MCX Copper Tips and Copper Jackpot Call All Target Achieved Low 729.20. MCX Copper 744 to 729.20 (Money Hai To Honey Hai) RONA MANA HAI TRADE WITH NEAL BHAI MCX GURU
The copper market is so tight that spot contracts traded at the biggest premium over futures in at least 27 years in London.
Copper prices are set to rule firm around $10,000 a tonne in the short-term as inventories have hit a record low following production cuts in the wake of power crunch in Europe and China despite a drop in manufacturing activities.
Copper is continuing a steady march higher despite the US Dollar strengthening today. It is approaching all-time highs on a run down in inventory, as energy costs hinder production capacity. After rallying 10% last week, Comex futures are trading 1% higher in Asia ahead of the London Metals Exchange (LME) opening.
Copper MCX Tips Today: घरेलू हाजिर बाजार की कमजोर मांग के बीच कारोबारियों ने अपने सौदों की कटान की जिससे वायदा बाजार में मंगलवार को तांबा वायदा भाव 0.35 प्रतिशत गिरावट के साथ 716.65 रुपये प्रति किलो रह गया।
Copper MCX Tips Today: Copper yesterday settled down by 1.82% at 697.8 amid concerns over demand due to Chinese power restrictions, put in place to keep emissions in check.
Copper Demand: In the late-August copper price forecast update it was noted that “the shifting narrative around the supply-demand picture has created an opportunity whereby copper traders may be able to retake the pandemic uptrend, which would keep intact the prospect of a multi-month bull flag forming – and if viable, another jaunt to all-time highs.”
Copper prices are in a somewhat similar position to crude oil, with a rising trendline from the February swing low currently resting shortly above.
Copper Tips Today: Hit Full Target — A growing number of copper workers in top producer Chile are digging in for a bigger share of the metal windfall, increasing the prospect of further supply disruptions.
Copper prices CMCU3 have extended their sharp recovery last week from the March lockdown lows of $4,371 to $7,973.5 a tonne, the highest since February 2013, buoyed by China’s solid demand and hefty investments by speculators amid monetary policy easing. views the current prices do not reflect fundamentals and the rally has been overdone.