Copper MCX Tips Today : All Target Price Hit. MCX Copper yesterday settled down by 0.7% at 698.05 as the positive data boosted the US index to return to above 91. Top consumer China posted weaker-than-expected factory growth in February after brief COVID-19-related disruptions earlier in the year.
China’s manufacturing activity expanded in February at a slower pace than a month earlier, data from the National Bureau of Statistics showed, hitting the lowest level since last May and missing market expectations.
Copper MCX Tips Today : All Target Price Hit
Growth in new home prices in China eased slightly in February as demand slowed over the Lunar New Year and some major cities clamped down further on speculative buying, a private survey showed.
The global refined copper market showed a 77,000 tonne deficit in November compared with a deficit of 145,000 tonnes deficit in October, the International Copper Study Group (ICSG) said in its latest monthly bulletin.
Read More : Copper Price Has Outperformed Other Base Metals
Between January and November last year, the copper market saw a shortage of 589,000 tonnes compared with a 427,000 shortfall in the same period the previous year.
World refined copper output in November was 2.12 million tonnes while consumption was 2.20 million tonnes. Global stocks of refined copper stood at 1.265 million tonnes at the end of November compared with 1.329 million tonnes at the end of October, according to the ICSG.
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