CAPITALSTARS MCX COMMODITY COPPER NEWS UPDATE : :14 October 2019

Base Metals Preview: Copper Gains above Rs 440 per Kg on MCX

MCX Copper edged up amid supportive global cues and extended gains after breaking above Rs 440 per kg level. COMEX Copper futures rose to one and a half weeks high above $2.60 per pound though broad economic cues remained weak. 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. The global economy is now in a synchronized slowdown, noted Kristalina Georgieva, the Managing Director of the IMF. Two years ago, the global economy was in a synchronized upswing. Measured by GDP, nearly 75% of the world was accelerating. In 2019, the IMF expects slower growth in nearly 90%of the world, she noted in a speech titled 'Decelerating Growth Calls for Accelerating Action'. This widespread deceleration means that growth this year will fall to its lowest rate since the beginning of the decade.

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