MTECHTIPS:-Copper prices to trade sideways today

MTECHTIPS:-Copper prices to trade sideways today

MTECHTIPS-Copper prices plunged by 1.5 percent yesterday as risk appetite plunged after Syrian allies including Russia, Iran and some militias criticized the US? attack on Syrian military airbase and warned it would respond to any new aggression with force. LME Copper prices are trading higher by 0.2 percent currently at $5765/t. Prices are expected to trade sideways today as risk appetite is likely to be under pressure today following news of a probable US navy strike on North Korea owing to the latter?s advancing weapons programme. Also, Russia, Iran and militias supporting Syrian President Bashar al-Assad criticized US attack on Syrian air base. We expect MCX copper prices to trade sideways today in line with international trends.

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