ZOID RESEARCH 25-NOV-2014 : COPPER

Copper declined by 0.74% and closed around $6676 MT. Apart from the lowered expectations of US Prelim GDP q/q and weak economic data like below the expected levels of Chicago and Dallas PMI numbers, the interest rate cuts by China isexpected to help the country sustain its present growth rate. However, the additional boost or a jump start in theChinese economy would be seen only when some fresh stimulus is added to the economy. This in turn would help increase the demand of Copper as China is the largest consumer of the red metal. As per the latest quote, Copper is seen trading at $6666 MT. Fundamentally, the factors continue to remain bearish for the metal and therefore we recommend selling Copper from higher levels for today.

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