DOLLAR ADVISORY MCX COPPER UPDATE OF 22 Nov 2016

Copper trading range for the day is 368.8-385.8. Copper rallied on expectations of improving appetite from China and higher demand from the U.S. market as the dollar pared recent gains. In the physical market, copper premium in Shanghai stayed firm at $95 a tonne, up from $70 a month ago. Hedge funds and money managers raised their net long position in COMEX copper futures and options to a record for the second straight week.

 

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