Weekly Copper Review: MCX futures see volatile moves

COMEX Copper futures stabilized around one week low amid supportive equities. Overall movement was choppy after China's central bank left its key interest rate unaltered following US Federal Reserve's decision to reduce rates. The People?s Bank of China (PBOC) left the seven-day reverse repo rate unchanged at 1.40%. Copper is overall being supported amid a recent decline in LME Copper inventories which fell near six-week low. Market is now positioning itself for the coming data on global Copper supply and demand estimates from the International Copper Study Group. MCX Copper futures broke under Rs 900 per kg mark in volatile trades before witnessing a modest uptick.

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