2025 CHINA(GUANGZHOU) INT'L NON-FERROUS METALS（Copper ） EXHIBITION- NON-FERROUS METALS Expo --copper exhibition-copper fair--copper show

Technically Copper market is under short covering as market has witnessed drop in open interest by 1.54% to settle at 13909. Now MCX Copper is getting support at 444.1 and below same could see a test of 441.9 levels and resistance is now likely to be seen at 447.8, a move above could see prices testing 449.3. Copper on MCX settled up 0.07% at 446.10 tracking LME copper which traded up 0.2 percent at $6,842.50 a tonne finding its feet after more than 2 percent losses in the previous session. Prices on Friday sank to their lowest since Oct. 11 at $6,782.50. The dollar edged away from last week''s three-month highs on Monday, while the euro nursed losses after the European Central Bank and unrest in Spain''s Catalonia led it to post its worst week this year. A stronger dollar makes metals less affordable for buyers paying with other currencies. While China''s plan to upgrade its industrial sector with "smart" factories, green manufacturing and transport is expected to increase annual copper demand by 232,000 tonnes by 2025, an industry group said on Friday. Investors continued to file into copper. Hedge funds and money managers raised their net long positions in copper by 1,026 contracts to 108,739 contracts, a six-week high, in the week to Oct.

24, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday. Also China property in lime light as the froth comes off China''s home prices, there are increasing signs that some property developers, particularly those with a heavy debt load, are becoming less aggressive. Property and construction is a major demand driver for metals. Now in the week ahead, investors will be focusing on Wednesday’s Fed meeting for fresh clues on the likely trajectory of monetary policy. Friday’s U.S. jobs report for October will also be closely watched. Trading Ideas:
--Copper trading range for the day is 441.9-449.3.
--Copper recovered from lows as a retreat in the dollar after its biggest one-week gain this year tempted buyers back to the metal.
--China''s plan to upgrade its industrial sector with "smart" factories, green manufacturing and transport is expected to increase annual copper demand by 232,000 tonnes by 2025.
--Hedge funds and money managers raised their net long positions in copper by 1,026 contracts to 108,739 contracts, a six-week high, CFTC data showed.