Copper Dropped As Tensions Between Washington And Beijing

Copper trading range for the day is 435.8-445.8.

Copper dropped as tensions between Washington and Beijing at a regional summit renewed concerns over a prolonged trade war, weighing on prices.

Headline copper inventories in LME-registered warehouses fell by 5,425 tonnes to 161,025 tonnes, nearing last month's 10-year low of 136,675 tonnes.

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Copper Slipped As The Dollar Extended Its Recovery After U.S. Midterm Elections

Copper trading range for the day is 430.8-444.6.

Copper slipped as the dollar extended its recovery after U.S. midterm elections and data showed copper imports by top buyer China fell in October.

China’s Arrivals of scrap copper in September plunged 38.9 percent to 200,000 tonnes, curbed by the hefty tariffs on imports from the United States

The global world refined copper market showed a 47,000 tonnes deficit in July, compared with a 38,000 tonnes deficit in June, the ICSG said.

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Copper Dropped As The Metal Considered To Be An Economic Bellwether Tracked

Copper trading range for the day is 437.8-455.2.

Copper dropped as the metal considered to be an economic bellwether tracked a slump in global equity markets.

China, more than quadrupled the value of fixed-asset investment projects approved in the third quarter from the April-June period.

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Copper Extended Losses Curbed By Tepid Spot Trading Amid Increasing Stockpiles

Copper trading range for the day is 443.1-452.7.

Copper extended losses curbed by tepid spot trading amid increasing stockpiles at the futures exchange.

Stocks of cash-settled copper futures warrants in China increased for a fourth straight session, adding 2,887 tonnes to 58,230 tonnes, SHFE data showed.

Increase in refined copper imports and expansion of smelter capacity in China would also weighing on copper prices.

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Copper Seen Supported Amid Shrinking Inventories

Copper trading range for the day is 453.7-465.7.

Copper seen supported amid shrinking inventories and in anticipation of growth in Chinese infrastructure and upbeat orders for stockpiling before the year-end.

China's imports of copper rose 24.0 percent from month ago to 521,000 tonnes in September, data from the General Administration of Customs showed.

Chinese data showed an unexpected acceleration in Chinese export growth in September and a record trade surplus with the United States.

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Silver Trading Range For The Day Is 38544-39542

Silver trading range for the day is 38544-39542.

Silver prices inched down as investors remained cautious after U.S. Treasury yields hit multi-year peaks and ahead of monthly employment data

Fed’s Evans said he was comfortable with expectations in financial markets that the U.S. central bank will raise interest rates again in December.

The ADP and Moody’s Analytics revealed that U.S. services and private payrolls increased by 230,000 in September.



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Silver Dropped After The Third U.S. Rate Hike For The Year

Silver trading range for the day is 37040-38340.

Silver dropped after the third U.S. rate hike for the year and the Federal Reserve’s indication of plans for more.

The Fed’s Chairman Jerome Powell also discussed trade related issues, adding that the Fed had heard a "rising chorus of concerns from businesses all over the country."

The US economy grew as expected in the second quarter, that confirmed that gross domestic product rose at its quickest rate in nearly four years.

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Crude Oil Rallied After Saudi Arabia And Russia Ruled Out Any Immediate Increase

Crude oil trading range for the day is 5086-5400.

Crude oil rallied after Saudi Arabia and Russia ruled out any immediate increase in production despite calls by U.S. President Donald Trump for action to raise global supply.

Amid a tightening market, U.S. commercial crude oil inventories are at their lowest level since early 2015.

OPEC as well as top producer Russia are discussing raising output to counter falling supply from Iran, although no decision has been made public yet.

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Copper Rose As A Weaker Dollar Underpinned Prices Even As Bearish Sentiment Lingered

Copper trading range for the day is 415.7-433.7.

Copper rose as a weaker dollar underpinned prices even as bearish sentiment lingered amid a trade war between the United States and top metals consumer China.

U.S. President Donald Trump said that the United States was not yet ready to come to an agreement over trade disputes with China but he said talks would continue.

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