Copper Slides Heavily, MCX Futures Under Rs 700 Per Kg Mark

30 Jun 2022 , 03:37 PM

MCX Copper futures slipped heavily in intraday moves, not being able to hold onto a rally near Rs 707 per kg. The COMEX Copper futures also sharply lower with heavy selling pressure visible in the European trades and currently trades down 1.60% at $3.72 per pound. Asian stocks continued to slip. Heavy selling was seen in Australian and Japanese markets though some gains emerged in Chinese equities. European shares lost heavily with German DAX losing around 2%. The US stocks stayed nervous in last session on sustained recession fears. The red metal has been witnessing sustained selling pressure after breaking under $4 per pound mark. MCX Copper futures are trading at Rs 698.40 per kg, down 0.87% on the day.Powered by Commodity Insights