Base Metals Preview: MCX Copper Falls Under Rs 700 Level

1 Jul 2022 , 08:53 AM

Copper lingered near a multi-month low as weak equities hurt the sentiments. The US stocks fluctuated after an early sell-off on Thursday but maintained a negative bias throughout the session. The S&P 500 has now seen the worst first half since 1970, with the index plummeting by 20.6%. Copper has not been able to see any buying despite easing of Covid restrictions in China as break under $4 per pound has triggered a major blow to the sentiments. COMEX Copper currently trades at $3.66 per pound, down 0.43% on the day. MCX Copper should start in a tepid manner following this after closing down 1.48% at Rs 694 per kg.Powered by Commodity Insights