MCX Copper may note some gains tracking international exchanges. MCX copper is trading higher in early trades today after a weaker session yesterday. Lending support to the prices is optimism that Greece may be able to secure second bailout next week.
Also supporting prices is increased risk appetite amid positive macroeconomic data from US. Further prices may seek support from weakness in US Dollar, firmness in equities and falling stocks at LME warehouses. Copper stocks at LME warehouses fell by 1925 tons yesterday hitting lowest level since September 2009 while cancelled warrants hovered near 28%, signaling strong physical demand.
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