MTECHTIPS:-Copper prices to trade sideways today

MTECHTIPS:-Copper prices to trade sideways today

MTECHTIPS-Copper prices traded lower by 0.4 percent to close at $5657.5/t last week as Chinese demand woes continued to hurt following recent Moody’s downgrade and weak imports data. Moody’s downgraded Chinese sovereign debt rating on 23rd May’17 for the first time since 1989, adding to slew of worries regarding growth of the mainland nation
markets are closed today on the eve of Spring day holiday. We expect MCX copper prices to trade sideways today in absence of cues from the US markets on account of Memorial Day holiday.
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