Copper Tanks Around 1%, MCX Futures Under Rs 650 Per Kg

31 Oct 2022 , 12:56 PM

COMEX Copper dropped more than half a percent in early Asia on Monday amid weak manufacturing data from China. Manufacturing sector in China fell into contraction territory in October, the National Statistics Bureau said on Monday with a manufacturing PMI score of 49.2, down from 50.1 in September. It also slips beneath the boom-or-bust line of 50 that separates expansion from contraction. The bureau also said that its non-manufacturing index fell to 48.7 from 50.6, while its general composite PMI sank to 49.0 from 50.9. COMEX Copper has tanked around 1% to $3.39 per pound. The MCX Copper futures have also lost around 0.77% to trade at Rs 647 per kg. Powered by Commodity Insights