Copper hovered near record highs on MCX as the rupee’s fall past 90 boosted domestic prices. Despite profit-booking in global markets, supply concerns—from Chinese smelter cuts to higher Codelco premiums—kept sentiment firm. Analysts say the trend remains bullish, with buying on dips preferred as long as key support zones hold.
Source link
Commodity Radar: Rupee’s record lows raise copper appeal on MCX. Time to buy red metals on dips
Copper hovered near record highs on MCX as the rupee’s fall past 90 boosted domestic prices. Despite profit-booking in global markets, supply concerns—from Chinese smelter cuts to higher Codelco premiums—kept sentiment firm. Analysts say the trend remains bullish, with buying on dips preferred as long as key support zones hold.
Source link
