Copper Continues In Bearish Mode, COMEX Futures Down Nearly 3%

12 Jul 2022 , 04:58 PM

The weak undertone in global equities continues to haunt the global Copper prices as the red metal sank near December 2021 lows. Asian stocks traded lower on Tuesday after Wall Street slipped overnight. Also the prospect of further monetary policy tightening by central banks and Chinas renewed COVID outbreak. European shares saw nervous trades on Europes energy shortage impacted sentiment. The US stocks turned lower, witnessing sustained selling pressure. COMEX Copper futures are quoting at $3.33 per pound, down 2.74% on the day. MCX Copper futures are trading at Rs 638.40 per kg, down 1.62% on the day after testing Rs 636.75 per kg.Powered by Commodity Insights