LME Copper prices traded flat on Thursday to close at $6330/t after a sharp 5.4 percent gain so far this week as news of a potential ban on imports of scrap metal including wire, motors and bulk scrap metal from end of 2018 in China in an effort to reduce pollution, kept Copper near two year highs. MCX copper prices traded flat to close at Rs.408 per kg on Thursday.

Outlook

LME Copper prices are currently trading sideways by 0.6 percent at $6285/t. We expect Copper prices to trade sideways today as global investors will keenly watch US Advanced GDP numbers due tonight. We expect MCX copper prices to trade sideways today.

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