MCX Copper Trading Tips – Keep Eye on ₹455, Below Target 20—30 Points, Copper on MCX settled up 0.42% at 451.05 amid reports of progress in trade negotiations between the United States and top metals consumer China.
White House economic adviser Larry Kudlow said it was a good sign that top U.S. officials would be travelling to China to discuss reviving stalled trade talks, and said he expected Beijing to start buying U.S. agriculture products soon.
The trade war between the world’s two biggest economies has weighed on global economic growth and dimmed the demand outlook for industrial metals.China’s central bank governor Yi Gang said the country’s current interest rate level is appropriate, the financial magazine Caixin reported.
China’s copper imports fell by 27.2 percent in June compared to the same month in 2018 as the world’s second-largest economy slowed down, which negatively impacts demand on industrial metals.Last month, China attracted nearly 326,000 tons of finished and refined copper products imported from abroad from 361,000 tons in May.
