MCX Copper sees sharp intraday fall, slides under Rs 830 per kg
09-Oct-2024
17:27
COMEX Copper is trying to stabilize around two week low. The metal currently trades at $4.40 per pound, down 1% on the day. Chinese stimulus measures seem unable to offer a further support to the red metal as attention turns to critical US economic data and firm US dollar index. Meanwhile, in Asia today, China's Shanghai Composite index slumped 6.60% after a 4% jump in last session. Hong Kong's Hang Seng index eased 1.38%. Japanese Nikkei index ended up 0.87%. European markets were largely supported after a mixed outing in last session. US stocks recovered on Tuesday, following a drop in the previous day. However, Copper faltered despite this, tanking 2.40% on the day. MCX Copper futures are currently trading down 1% at Rs 826.85 per kg after hitting near Rs 842 per kg mark in morning moves.
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