Copper Prices Eyed to Rise Amid Softer Dollar and Supply Concerns

Copper prices are expected to rise as long as they trade above Rs1328 level, according to ICICI Direct's Investment Guru. The metal is likely to move higher towards Rs 1350- Rs 1355 level before potentially breaking above Rs1355 level and targeting Rs1360-Rs1365 level.

The outlook for base metals is positive due to softer dollar and easing concerns over tighter monetary policy, as well as supply concerns from Chile falling global stocks in LME and SHFE. Yangshan copper premium held above $100 a ton, indicating active buying interest in China.