Copper Ticks Lower As Equities Slide

19 Sep 2022 , 04:57 PM

Copper futures fell on Monday tracking slump in US equities on Friday and generally tepid global risk sentiment. Major US equity averages posted steep losses last week. The Dow tumbled by 4.1 percent, while the S&P 500 plunged by 4.8 percent and the Nasdaq plummeted by 5.5 percent. Meanwhile, recovery is dollar ahead of Fed rate decision is also adding pressure on the red metal. Copper futures are trading down 0.78% at $3.48 per pound. MCX Copper futures are quoting at Rs 645.50 per kg, down 0.89% on the day. Asian markets dropped with heavy losses in benchmarks in Hong Kong and Japan sliding around 1%. European shares turned lower with major indices sliding around half a percent. Powered by Commodity Insights