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Commodity News Details
MCX Copper Drifts Under Rs 850 Per Kg
24-Jun-2024 17:18
COMEX Copper futures tried to stabilize today after witnessing a hefty slide in last session. The red metal tracked weakness in Chinese stock markets and drifted towards $4.40 per pound mark following a 2.60% tumble on Friday. However, mood stayed somewhat supported for risky assets and good gains were seen in European equities as Israeli Prime Minister Benjamin Netanyahu noted intense phase of the war with Hamas (in Gaza) is about to end. Copper is still down 0.56% at $4.41 per pound is not far from two month low. Recent surge in LME Copper inventories and worries posed by Chinese economic data are keeping Copper futures under stress in last few sessions. MCX Copper futures are quoting at Rs 849 per kg, down 0.11% on the day after testing a low near Rs 846 per kg in intraday moves.

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