MTECHTIPS;-Copper prices to trade lower today

MTECHTIPS;-Copper prices to trade lower today

MTECHTIPS-Copper prices traded higher by 0.2 percent at $5714/t on account of bargain hunting at lower levels. However, sharp upside was restricted as a suicide bomber killed 22 people, including children, in an attack on a crowded concert hall in Manchester, thereby pushing global investors towards less risky assets.Copper prices are currently trading lower by 0.9 percent at $5664/t. Prices are expected to trade sideways today as global investors are highly cautious about the developments in the US along with weak import numbers while the strike by workers at the Grasberg mine in Indonesia will support copper prices in the near term. We expect MCX copper prices to trade lower today.
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