Copper futures spiked today as traders eyed the sustained drop in Chinese copper inventories. According to Shanghai Futures Exchange, total copper inventory in the week of September 30 dropped 3729 tonnes to 30,459 tonnes, lowest in around eight months. The latest correction in the prices also augured well for the metal as Copper raced upwards despite selling in equities. The red metal currently trades up 1.37% at $3.43 per pound. The MCX Copper futures are trading at Rs 655.95 per kg, up 0.73% on the day.Powered by Commodity Insights
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