Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Commodities

| More

Copper - Weekly Wrap - Oct 9, 2021 - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Posted On: 2021-10-10 16:26:36 (Time Zone: IST)


Copper prices rebounded this week after surprisingly weak U.S. jobs data tipped the dollar lower.

The U.S. economy created 194,000 jobs last month, the fewest jobs in nine months, compared to a consensus forecast of 500,000 jobs.

Additionally, prices also moved higher helped by a rebound on global equities markets, falling exchange inventories and the threat of supply disruption at a mine in Peru.

Reuters reported that an indigenous community in Peru's Espinar province have blocked a key mining road this week and could plan to continue the blockade indefinitely, in protest against the government and Glencore Antapaccay copper mine.

The conflict comes a day after the government defused a similar standoff in nearby Chumbivilcas.

Meanwhile, on-warrant stocks in LME-registered warehouses fell to 82,850 tonnes from 168,075 tonnes on Sept. 21. Stocks in Shanghai Futures Exchange (ShFE) warehouses at 43,525 are the lowest since 2009 and lent support.

OUTLOOK

Looking ahead, copper could remain sideways.

The failure of a major Chinese property developer that has ignited debt worries for the construction sector and a coal shortage that has cut power supplies to manufacturers will keep prices under pressure in the short run.

Additionally, markets could track the economic calendar next week with total social financing, new Yuan loans and M2 money supply expected out of China.

Additionally, trade balance, CPI and PPI data out of China will also be the major trigger for the markets next week.

On the other hand, longer term horizon remains bullish for the metal due to robust copper demand as part of the global energy transition from charging stations to solar plants.

Technically, over the 3 weeks LME Copper has traded in broad range of $9000-9500 and only a break on either side will provide the markets with fresh ranges.

Domestically, MCX Copper continuous contract has remained in broad band of 698-740 and only a break on either side will provide the markets with fresh ranges.

Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Gold and Silver - October 23, 2021 - Weekly Wrap - Reliance Securities

Copper - October 23, 2021 - Weekly Wrap - Reliance Securities

Crude Oil - October 23, 2021 - Weekly Wrap - Reliance Securities

Gold & Silver - Oct 21, 2021 Outlook - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Crude Oil - Oct 21, 2021 Outlook - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Gold and Silver - October 20, 2021 Outlook - Reliance Securities

Crude Oil - October 20, 2021 Outlook - Reliance Securities

Gold & Silver - October 19, 2021 Outlook - Reliance Securities

Crude Oil - October 19, 2021 Outlook - Reliance Securities

Crude Oil - Oct 18, 2021 - Outlook - Reliance Securities

Gold and Silver - Oct 18, 2021 - Outlook - Reliance Securities

Crude Oil - Weekly Wrap - Oct 9, 2021 - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Gold & Silver - Weekly Wrap - Oct 9, 2021 - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Crude Oil - Oct 5, 2021 - Mr. Tapan Patel, Senior Analyst (Commodities), HDFC Securities

Gold - Oct 5, 2021 - Mr. Tapan Patel, Senior Analyst (Commodities), HDFC Securities

Base Metals - Oct 4, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Oct 4, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Oct 4, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Oct 1, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Oct 1, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 30, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 30, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 29, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 29, 2021 - Mr. Tapan Patel- Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 28, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 28, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold and Silver - Weekly Wrap - Sep 25, 2021 - Reliance Securities

Crude Oil - Weekly Wrap - Sep 25, 2021 - Reliance Securities

Copper - Weekly Wrap - Sep 25, 2021 - Reliance Securities

Copper - Weekly Wrap - Sep 18, 2021 - Reliance Securities

Crude Oil - Weekly Wrap - Sep 18, 2021 - Reliance Securities

Gold & Silver - Weekly Wrap - Sep 18, 2021 - Reliance Securities

Crude Oil - Sep 15, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 15, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 14, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 14, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Base Metals - Sep 13, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 13, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 13, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 9, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 9, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 8, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 8, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 7 , 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 7, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Base Metals - Sep 6, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 6, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 6, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Copper - Sep 4, 2021 - Reliance Securities

Gold & Silver - Sep 4, 2021 - Reliance Securities


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020