Base Metals Preview: Copper Supported Amid Steady Equities

COMEX Copper futures are staying supported mixed economic cues. The metal currently quotes at $ 3.08 per ounce, up 0.70% on the day. MCX Copper futures should see an uptick today following these moves. The local futures closed at Rs 461.95 per kg, down 0.40% on the day. US stocks saw a lax movement on Friday. The choppy trading on Wall Street came as traders seemed reluctant to make more significant moves amid lack of cues on the US economic front. Eurozone trade surplus increased in March from a month earlier, as exports grew faster than imports, data from Eurostat showed Friday. The seasonally adjusted trade surplus rose to EUR 21.2 billion in March from EUR 20.9 billion in February. Month-on-month, both exports and imports climbed by 0.8% and 0.7%, respectively in March. Japan merchandise trade surplus came in at 625.977 billion yen in April, up 30.9% on year, the Ministry of Finance said on Monday, following the downwardly revised 797.0 billion yen surplus in March (originally 797.3 billion yen). Exports were up 7.8% on year to 6.822 trillion yen, but up from 2.1% in the previous month. Imports advanced an annual 5.9% to 6.196 trillion yen following the 0.6% contraction a month earlier.