COMEX Copper slumped in the last week, not being able to hold onto recent gains as cautious trading in equities hurt the red metal. The US dollar index spiked to a fresh 18 month high above 97 mark, keeping commodities under stress. COMEX Copper futures saw accelerated losses after breaking under $4.40 per pound mark and fell to a five week low near $4.30 per pound mark. Heavy selling pressure in major mining stocks and profit booking ahead of Chinas New Year public holiday next week played a part in accelerating the slide in Copper. MCX Copper futures tanked after failing to stay supported above Rs 750 per kg mark.
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