MCX Copper Dips Around 1%

6 Jan 2022 , 05:41 PM

COMEX Copper stayed under stress today as weak equities pushed the metal lower. Asian stocks continued to slip. Chinese benchmark Shanghai Composite index dropped 0.25% Japanese Nikkei 225 tanked around 3% as recent gains triggered massive correcting selling. European stocks tanked with heavy losses in all major indices. COMEX Copper futures extended losses after breaking under $4..40 per pound and currently quote at $4.35 per pound, down 1.30% on the day. MCX Copper futures are also trading lower on these cues, testing near Rs 731 per kg in intraday moves. The counter currently trades down 1% at Rs 736.25 per kg.

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