COMEX Copper Maintains Bullish Bias, MCX Futures Hold Near Rs 640 Per Kg

27 Jul 2022 , 02:35 PM

COMEX Copper futures soared today, rising in tune with the global equities as the red metal stayed well supported around two week high after breaking above $3.40 per pound. The metal currently trades up 1.48% at $3.43 per pound. MCX Copper futures are trading at Rs 639.50 per kg, up 0.88% on the day after hitting around Rs 641 per kg in intraday moves. In a critical economic data today, the Chinese industrial profits grew slightly in June after falling for two straight months, as the relaxation of pandemic related restrictions underpinned production and sales. Industrial profits grew 0.8 percent year-on-year in June, reversing a 6.5 percent fall in May, the National Bureau of Statistics reported. During the January to June period, industrial profits advanced 1.0 percent.Powered by Commodity Insights