MTECHTIPS-Copper prices gained 0.8 percent yesterday to close at $5956/t as US GDP grew at an annualized rate of 2.1 per cent in the final three months of last year, slowing less than expected supported by robust consumer spending. LME Copper prices are trading flat currently at $5841/t. Prices are expected to trade sideways today as investors will be cautious ahed of key meeting between Trump and Jinping. Also, string of crucial data releases will keep risk appetite under check. Besides, volumes will be thin as Chinese markets are closed today on the eve of Tomb Sweeping Day. We expect MCX copper prices to trade sideways today in line with international trends
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