Copper Caught In Lax Trades, MCX Futures In Red

23 Aug 2022 , 04:51 PM

COMEX Copper futures saw muted trades today. Asian markets mostly saw a muted action on weak overnight cues. European shares edged up in cautious trades amid lack of major economic cues. The US stocks slumped amid heavy selling pressure as risk appetite went for a toss. Not much of buying is emerging in the red metal as the US dollar index is holding firm around 109 mark. The metal has eased from its one week high but downside is also being protected due to latest reduction in borrowing costs from leading consuming nation China. COMEX Copper futures currently trade at $3.65 per pound, up 0.21% on the day. MCX Copper futures are trading at Rs 668 per kg, down 0.40% on the day. Powered by Commodity Insights