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Commodity News Details
Copper Supported Amid Mixed Equities, MCX Futures Test Rs 900 Per Kg
17-May-2024 17:31
COMEX Copper futures stay supported today after falling around 1% in last session. Copper has been soaring recently and hit record highs this week though it has been eased thereafter. The red metal currently trades at $4.93 per pound, up 1.20% on the day. Meanwhile, equities saw mixed moves today. China?s Shanghai Composite index gained 1% while Japan?s Nikkei 225 index fell 0.34% after latest gains. Hong Kong?s Hang Seng index added 0.91%. European stocks eased with German DAX index falling 0.34% and French CAC witnessing similar losses. The US stocks gave up initial gains and ended lower on Thursday with the DOW giving up after hitting 40K mark for the first time. On MCX, Copper futures are trading at Rs 898.75 per kg, up 0.50% on the day as a good rally in Indian Rupee against US dollar trimmed gains for the counter. MCX Copper hit a high of Rs 903.30 per kg in intraday moves.

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