CAPITALSTARS MCX COMMODITY COPPER NEWS UPDATE : :10 October 2019

Base Metals Preview: Copper Up Half A Percent In Asian Trades

Copper rose today as a recent recovery extended on supportive cues from equities. US stocks edged up on renewed optimism about upcoming US-China trade talks and COMEX Copper is currently up 0.55% at $2.58 per pound. MCX Copper futures closed at Rs 437.50 per kg, down marginally on the day.

Meanwhile, broad economic cues remain weak. 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. Today, even more of the world economy is moving in synch but, unfortunately, this time growth is decelerating. In 2019, we expect slower growth in nearly 90% of the world, she noted in a speech titled ‘Decelerating Growth Calls for Accelerating Action’.

The World Bank expects economic growth across Europe and Central Asia to ease this year reflecting the slowdown in both Russia and Turkey. According to the latest World Bank Economic Update for Europe and Central Asia, growth in the emerging and developing countries of Europe and Central Asia is set to fall to a four-year low of 1.8% this year from 3.2% in 2018. The growth rate is projected to improve to 2.7% in 2020 and to 3% in 2021

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