IFL: Base metals closes trades up on dollar recovery
Copper prices are expected to trade higher mainly due to forecast of increase in demand for this year from China the world s largest metal consumer.
Economic data to be released from the US today are factory orders and total vehicle sales. Base metal prices will take cues from the movement in the US dollar today. We expect metal prices to trade with a positive note mainly taking cues from rising copper prices and weakness in the US dollar.
But any negative news or poor economic data from US will pull the metal prices in the downward direction today. Copper prices are expected to trade higher mainly due to forecast of increase in demand for this year from China the world s largest metal consumer.
