MTECHTIPS:-Copper prices to trade higher today

MTECHTIPS:-Copper prices to trade higher today

MTECHTIPS-Copper prices jumped 4.2 percent to close at near 2- year high levels of $6095/t as US president surprised the global markets by affirming to the One China policy, a major bone of contention between the two superpowers. LME Copper prices are trading higher by 1 percent today at $6145/t. Copper will likely trade higher today as recent talks between the US and China leaders will boost risk appetite. Also, supply concerns at Freeport mine in Indonesia continue even after the government granted it new export permit since the company wants the same fiscal and legal protection in its current contract will be supportive. We expect MCX copper prices to trade higher today in line with international trends

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