MTECHTIPS:- Copper prices to trade sideways today: Angel Commodities

MTECHTIPS:- Copper prices to trade sideways today: Angel Commodities

MTECHTIPS- Copper prices jumped to two-month high levels and closed at $5991/t as workers union at the Chile’s Escondida copper mine, the world’s largest, entered the final stretch of voting and said it was confident a strike would be approved, thereby igniting supply disruption woes. MCX copper prices traded higher by 2 percent on Tuesday to close at Rs.406.1 per kg. Outlook LME Copper prices are trading lower by 0.3 percent at $5973/t. Copper will likely trade sideways today as Chinese manufacturing activity continued to be in expansion mode at 51.3 in January, indicating economic stabilization. We expect MCX copper prices to trade sideways today in line with international trends.

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