MTECHTIPS:-Copper prices to trade lower today

MTECHTIPS:-Copper prices to trade lower today

MTECHTIPS-Copper prices gained 0.4 percent last week to close at $5939/t as supply disruption concerns only worsened as wage dispute at Escondida, the world’s largest copper mine by a wide margin, turned ugly on Wednesday after striking workers blocked several access roads, triggering violent confrontations with police. Also, largest listed copper miner Freeport McMoRan told employees in an internal memo that it sees “no returning to business as usual” at its Grasberg mine in the Papua province of Indonesia. Copper prices are trading lower by 0.2 percent currently at $5930/t. Copper will likely trade lower today as China slashed its growth forecast for 2017 to 6.5 percent. However, sharp downside will be limited as supply disruption concerns continue for the third week in a row. We expect MCX copper prices to trade lower today in line with international trends

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips

WWW.MTECHTIPS.COM
07489294118-119