: Copper may open flat Monday on demand worries from China following weaker than expected economic data and buying at lower level after prices dropped to five-year low on Friday, said analysts.
"Base metals will fall on China demand worries while short covering will cushion the prices at lower level," said Ajay Kumar Kedia an analyst with Kedia Commodities.
Base metals will be down after a government data indicated a slowdown in the Chinese economy.
China imports fell 8.1% in July compared to analysts' estimate of 8.1% fall and 6.1% de-growth for the same period a year earlier, data by the National Bureau Statistics of China showed.
Exports in China also declined to 8.3% for the same period compared to 2.8% growth a year ago.
Prices of red metal will also be under pressure after China Jan-Jul copper, copper product imports fell 9.5% to 2.59 million tons on year, government data showed.
China is the world's largest consumer of copper accounting for about 40% of total global demand and major consumer of other industrial metals.
However, sharp fall in the red metal prices will be cushioned as investors are likely to buy back oversold position after prices dropped to five-year low on Friday, said analysts.
On Friday, copper for August delivery at the close of trades slipped 0.43% to Rs 329.70 per kilogram on the MCX, at its lowest level since July 23, 2010.
Red metal prices will also be under pressure on higher stockpiles of the metal on LME, indicating oversupply situation, said analysts.
Copper stockpiles rose by 725 tons to 352,325 tons, LME data showed on Friday, its highest level since January 2014.
On Friday, copper for August delivery at the close of trades slumped 0.43% to Rs 329.70 per kilogram on the MCX.
MCX copper prices are likely to find support at Rs 324.6 per kilograms while resistance is seen at Rs 335.2 per kilograms today.
London Metal Exchange (LME) copper prices may open at $ 5,147.50 per MT and find support at $5,043 MT and resistance at $5,271 per MT.
MCX aluminium for July delivery at close of trades dropped 0.19% to Rs 100.35 per kilograms on the MCX, at its lowest level since May 23, 2012.
MCX aluminium prices are likely to find support at Rs 99.3 per kilograms while resistance is seen at Rs 102.1 per kilograms today.
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