MTECHTIPS;-Copper prices to trade higher today

MTECHTIPS;-Copper prices to trade higher today

MTECHTIPS- Copper prices traded higher by 1.7 percent at $5895 per tonne as dollar gained traction after Philadelphia Federal Reserve Bank President Patrick Marker commented in support of interest rate hike at the U.S. central bank’s March meeting if growth in jobs and wages continues. Copper prices are trading flat today at $5891/t. Copper will likely trade higher today as BHP Billiton said it planned to halt production at the Escondida mine in Chile due to a workers strike after negotiations mediated by the Chilean government with the company have failed. We expect MCX copper prices to trade higher today in line with international trends.

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