According to Angel Commodities, expect MCX copper prices to trade higher.
Angel Commodities’ report on Copper
LME Copper prices gained 0.9 percent to $5706/t as Euro continued its rally against the dollar past five and half month highs after Emmanuel Macron emerged victorious in the first round of French Presidential elections.
LME Copper prices are currently trading higher by 0.2 percent at $5716/t. Prices are expected to trade higher post April 26th as optimism in global markets ahead of Trump’s proposal to make steep cuts in corporate taxes and repatriation of offshore corporate profits.
Also, rising prospects of victory of pro-growth centrist Emmanuel Macron in the French elections will boost risk appetite. We expect MCX copper prices to trade higher either.