COMEX Copper Ease Around Half A Percent

10 Jan 2022 , 05:21 PM

COMEX Copper saw a thin movement today after recording good gains in the last session. The metal stayed largely supported and rose around 1% on falling inventories in Shanghai and continued bargain buying after the red metal tested a two week low on Thursday. The gains failed to extend further today amid cautious undertone in equities. COMEX Copper currently trades down 0.55% at $4.37 per pound. MCX Copper futures are quoting at Rs 740.35 per kg, down marginally on the day.

Asian stocks stayed mostly supported today. Chinese benchmark Shanghai Composite index added 0.39%. Hong Kong’s Hang Seng rose 1%. Japanese markets were closed for a holiday. European stocks started the new week in a sluggish manner. The US stocks stayed slippery on Friday. The S&P 500 and the Nasdaq closed lower for the fourth consecutive session.

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