MTECHTIPS;- Copper prices to trade lower today

MTECHTIPS;- Copper prices to trade lower today

MTECHTIPS-Copper prices fell by 0.2 percent on Wednesday as Chinese consumer price index (CPI) rose 1.2 percent year on year in April, well below the government’s annual target of around 3 percent set for 2017. Besides, Producer price index (PPI) rose 6.4 percent year on year in April, down from 7.6 percent in March, in the first monthon-month decline since July last year. Copper prices are currently trading higher by 0.4 percent at $5520/t. Prices are expected to trade lower today as string of disappointing data releases from China this week will hurt demand. Besides, high inventories at both LME and Shanghai warehouses still fuel supply glut concerns. Also, investors will cautiously await G7 Meetings later this week. We expect MCX copper prices to trade lower today.

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

WWW.MTECHTIPS.COM
07489294118-119