MTECHTIPS:-Copper prices to trade lower today

MTECHTIPS:-Copper prices to trade lower today

MTECHTIPS-Copper prices plunged by 2.6 percent last week and had touched five-month lows as the risk appetite was sharply low ahed of crucial FOMC statement and French election results. Copper prices are currently trading lower by 1 percent at $5529/t. Prices are expected to trade lower today as high inventories at both LME and Shanghai warehouses will add to supply woes. Also, China reported a trade surplus in April but both imports and exports fell short of expectations. We expect MCX copper prices to trade lower today.

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