MTECHTIPS;- Copper prices to trade higher today

MTECHTIPS;- Copper prices to trade higher today

MTECHTIPS-Copper prices gained 0.5 percent yesterday to close at $5779/t as factory activity in major global economies except US showed sharp improvement in March. U.S. manufacturing activity retreated from a 2-1/2-year high in March. LME Copper prices are trading higher by 1 percent currently at $5838/t. Prices are expected to trade higher today as Chinese markets return after a four day holiday. However, upside will limited as investors will keenly watch ADP Nonfarm payrolls and FOMC meeting minutes release due tonight. We expect MCX copper prices to trade higher today in line with international trends.

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