[ferro-alloys.com] According to Angel Commodities, LME Copper prices are currently trading lower by 0.26 percent at $5667/t. Prices are expected to trade sideways today as global investors are highly cautious about the developments in the US although Trump administration is planning to move past controversies towards reforms.

Copper LME Copper prices traded higher by 2.2 percent at $5580/t while MCX copper rose by 2.7 percent at Rs.369.6 per kg on bargain hunting at lower levels.

Investors grew increasingly cautious regarding tax cuts and infrastructure spending plans in the US following recent controversies involving President Trump.

While on the other hand, latest disappointing economic data releases from China has raised demand concerns from the world’s biggest consumer. Industrial production expanded by an annual 6.5 percent in April, dropping from 7.6 percent in March while fixed asset investment data suggested a slowdown to 8.9 percent in April from 9.2 percent the previous month. Last week as well, weak inflation data coupled with sharp decline in Copper imports weighed on the metal.

• [Editor:Wang Linyan]