Limited Period Offer:Be a PRO for 1 month @Rs49/-Multiple payment options available. Know More

Copper prices to trade higher: Angel Commodities

According to Angel Commodities, expect Copper prices are currently trading higher by 0.2 percent at D 6847 /t. Copper prices are likely to trade higher today as unexpectedly favourable manufacturing numbers from China coupled with rising net longs in CFTC positions will be supportive.

December 04, 2017 / 01:35 PM IST
Copper cooking pots still in use today, some dating back to King George IV, sit on racks in the kitchens at Buckingham Palace in London March 25, 2011. Staff at Buckingham Palace have lifted the lid on preparations for Prince William's wedding next month, giving an insight into what guests can expect and the amount of work they have put in to make the event a success.   REUTERS/Nick Ansell/POOL  (BRITAIN - Tags: ROYALS ENTERTAINMENT POLITICS FOOD) - RTR2KJGP

Copper cooking pots still in use today, some dating back to King George IV, sit on racks in the kitchens at Buckingham Palace in London March 25, 2011. Staff at Buckingham Palace have lifted the lid on preparations for Prince William's wedding next month, giving an insight into what guests can expect and the amount of work they have put in to make the event a success. REUTERS/Nick Ansell/POOL (BRITAIN - Tags: ROYALS ENTERTAINMENT POLITICS FOOD) - RTR2KJGP


Angel Commodities' report on Copper

LME Copper prices fell by around 3 percent last week as China’s state planner announced that it will check local governments' investment in railway projects amid growing concerns that infrastructure spending is swelling debt further. This is done to prevent "disguised" debt issuance by local government via public - private partnership (PPP) projects. However, downside momentum was restricted by supply disruption woes fueled by strikes at Escondida mine in Chile and Southern Copper mine in Peru.

Outlook

We expect Copper prices are currently trading higher by 0.2 percent at D 6847 /t.  Copper prices are likely to trade higher today as unexpectedly favourable manufacturing numbers from China coupled with rising net longs in CFTC positions will be supportive.

For all commodities report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Close
first published: Dec 4, 2017 01:35 pm

stay updated

Get Daily News on your Browser
Sections