MTECHTIPS;-Copper prices to trade higher

MTECHTIPS;-Copper prices to trade higher

MTECHTIPS- Copper prices traded higher by 2.8 percent last week touching three year highs as gains in iron ore prices, key Steel making ingredient boosted an upside in nonferrous metals space. Iron ore futures on the Dalian Commodity Exchange surged for third day in a row on Monday fueled by concerns of shortages of high-grade iron ore and before curbs on futures purchases come into force. LME Copper prices are currently trading higher by 1.72 percent at $6780.5/t. Copper prices are likely to trade higher today as weakness in the DX will be supportive. Also, declining LME Copper stocks along bullish CFTC positions will act as positive factors

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