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      Base metals preview: Copper can ease a bit on MCX

      MoM Team / Mumbai, Aug 10, 2017 10:22 AM IST

        Base metals preview: Copper can ease a bit on MCX

        Weakness in US dollar and supportive economic sentiments are keeping base metals afloat. The dollar index has not been able to witness major buying support despite steady economic data and rising global tensions.

        The index hit a one week high of 93.80 last Friday but has been languishing in a tight range around 93 levels this week. This is keeping Copper and Aluminium supported around their two and two and half year highs.

        MCX Copper futures hit a high of almost Rs 417 per kg and closed around Rs 414 levels. Expect a minor correction if prices drop under Rs 413 mark.


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