CAPITALSTARS MCX COMMODITY COPPER NEWS UPDATE : :11 October 2019

Base Metals Preview: MCX Copper Breaks Above Rs 440 Per Kg

COMEX Copper futures rose to one and half week high above $2.60 per pound after US President Donald Trump revealed he plans to meet with Chinese Vice Premier Liu He as part of high-level US-China trade talks. The metal currently quotes at $2.61 per pound, unchanged on the day. MCX Copper ended up 1% at Rs 441.80 per kg. Broad economic cues remain weak though. WTO's World Trade Report highlighted that services have become the most dynamic component of international trade and that its role will continue to expand in the coming decades. It stresses the need to enhance cooperation in the international community to support this expansion.

Germany's exports declined the most in four months in August, while imports recovered at a faster than expected pace, data from Destatis revealed on Thursday. Exports fell by 1.8% month-on-month in August, reversing a 0.8% rise in July. Meanwhile, imports rose 0.5% after falling 2.4% a month ago. As a result, the trade surplus fell to a seasonally adjusted EUR 18.1 billion from EUR 20.5 billion in July.

Japan core machine orders fell a seasonally adjusted 2.4% on month in August, the Cabinet Office said on Thursday standing at 875.3 billion yen, following the 6.6% decline in July. On a yearly basis, core machine orders plummeted 14.5% following the 0.3% gain in the previous month. Total number of home loans in Australia was up a seasonally adjusted 3.2% on month in August, the Australian Bureau of Statistics said on Thursday - coming in at 33,468. That followed the upwardly revised 4.3% increase in July.

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