MTECHTIPS:-Copper prices to trade sideways today

MTECHTIPS:-Copper prices to trade sideways today

MTECHTIPS-Copper prices traded higher by 0.1 percent at $5665/t as the downward momentum in LME stocks continued for ninth consecutive day, to 305,550 tonnes, down by around 9 percent since 17th May’17.Copper prices are currently trading lower by 0.1 percent at $5654/t. Prices are expected to trade sideways today as weak dollar after unfavorable Nonfarm payrolls report will be supportive. While on the other hand, investors will cautiously watch Britain’s elections this week. We expect MCX copper prices to trade sideways today.

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