Moneycontrol
Feb 16, 2017 12:34 PM IST | Source: Moneycontrol.com

Expect Copper prices to trade higher today: Angel Commodities

According to Angel Commodities, expect MCX copper prices to trade higher today in line with international trends.



Angel Commodities' report on Copper


LME Copper prices gained 0.8 percent to close at $6067/t as supply disruption concerns and sharp decline in LME stocks buoyed upside. However, sharp upside was limited following Yellen’s commitment to tighter monetary policy despite pressure by Republicans to concede that the American economy was broken, that the Fed had failed to fix the underlying problems and that excessive regulation was making things worse. MCX copper prices flat to close at Rs.404.3 per kg on Wednesday.


Outlook


LME Copper prices are trading higher by 0.3 percent today at $6082/t. Copper will likely trade higher today as supply woes continue given renewed talks in Chile to end a week-long strike at Escondida had been delayed until likely at least Saturday. We expect MCX copper prices to trade higher today in line with international trends.

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