Base Metals Preview: MCX Copper Zooms More Than 2%

13 Jan 2022 , 08:48 AM

COMEX Copper futures spiked, extending a recent bounce above $4.50 per pound mark as firm equities and weakness in the US dollar boosted the metal. The counter jumped 3% to $4.56 per pound, hitting its two and half month high mark. MCX Copper futures also zoomed up and closed 2.14% at Rs 756 per kg. Industrial production unexpectedly jumped across the Eurozone in November; official data showed on Wednesday. According to Eurostat, the European Unions statistics office, seasonally-adjusted industrial production rose by 2.3% month-to-month in November. Consensus had been for a rise of just 0.5%. In the wider EU, industrial production rose 2.5% on the same basis

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