Copper Stays Firm, MCX Futures Break Well Above Rs 750 Mark

2 Feb 2022 , 02:32 PM

Copper managed to hold onto its gains after a firm movement in last session that saw the red metal spike more than 2%. Asian stocks advanced in thin trade on Wednesday as investors continue to pick up beaten-down shares following a disappointing January. Markets in China, Hong Kong and South Korea were closed for the Lunar New year holidays. Japanese shares continued to rise from a multi month low. A slide in the US dollar index is also keeping the COMEX Copper futures elevated and the counter currently trades up 0.41% at $4.45 per pound. MCX Copper futures are trading at Rs 754.65 per kg, up 0.57% on the day. The Indian Rupee continued to ease following the Union Budget yesterday and currently quotes down 12 paise at 74.95, helping push up local Copper futures further.

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