Copper Prices Traded Higher By 0.4 percent

LME Copper prices traded higher by 0.4 percent at $5703/t while MCX copper rose by 0.5 percent at Rs.371.5 per kg on bargain hunting at lower levels.

An estimated 9,000 workers at the giant Grasberg copper mine operated by the Indonesian unit of Freeport McMoRan Inc will extend a strike for a second month, in an ongoing dispute over employment terms and layoffs.

China's economy is likely to expand by about 6.8 percent in the second quarter of 2017, the State Information Center said in an article in the state-owned China Securities Journal on Saturday. This in turn is supporting the positive move in the base metals complex including copper.

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Suhani Verma

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