Copper prices are expected to trade sideways today: Angel Commodities

Angel Commodities’ report on Copper

On Tuesday, LME Copper prices declined by 0.5percentto close at $ 6246.0 per tonne. Global economic slowdown and a firmer Dollar weighed on the copper prices. Weak economic data in recent weeks in key global economies, including in world biggest metal consumer (China), has raised fears of a global recession. On the MCX, Copper prices declined by 0.6percent to close at Rs.446.3 per kg.

Outlook

LME Copper price is currently trading lower by 0.34percent to trade at $ 6230.5tonne.Trade tension between US and China and its impact on the global economic growth continues to hamper the base metals prices. On the MCX, copper prices are expected to trade sideways today.

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