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Last Updated : Dec 06, 2019 10:21 AM IST | Source: Moneycontrol.com

Copper prices are expected to trade sideways today: Angel Broking

According to Angel Broking, Copper LME Copper prices traded flat to close at $5888 per ton following U.S. President Donald Trump's upbeat rhetoric on trade talks with China, although concerns about demand for the metal kept gains in check.


Angel Broking's report on Copper


Copper LME Copper prices traded flat to close at $5888 per ton following U.S. President Donald Trump's upbeat rhetoric on trade talks with China, although concerns about demand for the metal kept gains in check. The trade talks were "moving right along", Trump said on Thursday, even as Chinese officials insisted that both sides must simultaneously cancel some existing tariffs on each other's goods for them to reach a "phase one" trade deal. On the MCX, Copper prices declined marginally to close at Rs.430.6 per kg.


Outlook


Optimism over U.S. & China trade situation might improve the demand prospects for industrial metals and support the prices. On the MCX, Copper prices are expected to trade sideways today; international markets trading higher by 0.11 percent at $589.5 per tonne.


For all commodities report, click here


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First Published on Dec 6, 2019 10:15 am
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