Copper prices expected to trade lower today

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A week ago, LME Copper costs surged 3.5 percent as strike at Cerro Verde, Peru’s greatest copper mine, after a meeting between the union and administration neglected to determine a disagreement about work requests, helped supply disturbance worries notwithstanding strikes at Escondida in Chile and Grasberg in Indonesia.

LME Copper costs are exchanging lower as of now by 0.7 percent as of now at $5897/t. Risk appetite came under pressure after G20 leaders failed to agree on a commitment towards free global trade, giving way to protectionism concerns.

Additionally, net yearns in CFTC copper were trimmed for the forward week in succession, demonstrating falling investor interest. Be that as it may, supply disturbance concerns will keep on providing support. We anticipate that MCX copper costs will exchange bring down today in accordance with global patterns.

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