February 28, 2017 / 13:19 IST
Angel Commodities' report on Copper
LME Copper prices rose marginally to close at $5934/t as supply disruption concerns came to its rescue. BHP Billiton delayed its legal right to replace striking workers, in a move seen as sacrificing output to undermine the union's position.
Also, Freeport warned that it could take the Indonesian government to arbitration. Besides, persistent decline in LME stocks is acting as a positive factor. MCX copper prices traded higher by 0.3 percent to close at Rs.395.3 per kg on Monday.
Outlook
LME Copper prices are trading flat currently at $5940/t. Copper will likely trade lower today as risk appetite will be low ahead of President Trump’s speech to a joint session of Congress where he is expected to speak of tax cuts and probably infrastructure spending. We expect MCX copper prices to trade lower today in line with international trends.
For all commodities report, click hereDisclaimer: 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. 
Read More
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
