MTECHTIPS;-Copper prices to trade higher today

MTECHTIPS;-Copper prices to trade higher today

MTECHTIPS-Copper prices declined 2 percent to close at $5970/t as Janet Yellen in her testimony said it would be “unwise” to wait too long to hike rates, although she declined to say about the rate trajectory in March FOMC meeting. Copper prices are trading higher by 0.5 percent today at $5988/t. Copper will likely trade sideways today as supply woes remain at the forefront with continuation of strikes or force majeure at the top producers. However, investors keenly await FOMC meeting minutes due later this week. We expect MCX copper prices to trade higher today in line with international trends.

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