Copper Faulters, MCX Futures Give Up 1%

11 Jul 2022 , 04:22 PM

Copper faltered today on weak equities and an extremely firm US dollar index. Asian stocks mostly slipped with hefty drop in Hang Seng equities as markets eyed resurgence of Covid-19 in China. European shares fell in early moves though some modest uptick was seen as the session progressed. The US stocks closed mixed Friday, with the technology-heavy Nasdaq Composite ending higher as the Dow Jones Industrial Average and S&P 500 index slipped, after a stronger-than-expected June jobs report. COMEX Copper futures are trading down 1.72% at $3.46 per pound. MCX Copper futures are also down around 1% at Rs 654.15 per kg with a sliding Indian Rupee capping losses to a certain extent. Powered by Commodity Insights