CAPITALSTARS MCX COMMODITY COPPER NEWS UPDATE : :15 October 2019

 

Base Metals Preview: Base metals traded mixed, with select metals gaining some support at lows.

Copper prices steadied as trade data from China reinforced concerns about demand for industrial metals and investors reacted cautiously to signs of progress in U.S.-China trade talks. U.S. President Trump and Chinese delegates both sides agreed that much more work needs to be done before an accord can be agreed upon. Chinese growth and demand for auto sales fell 5.2% YoY, representing a 15th consecutive month of declines. Chinese data on loans, investment, and industrial production this week will be closely watched by metals markets for clues on demand prospects. Nickel has been very volatile with the cash-3M spread at an elevated $187 a tonne. Falling stocks in LMEregistered warehouses, which have dropped below 100,000 tonnes to their lowest in more than seven years.

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