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Copper pulls back after impressive gains in last session
10-Mar-2025 17:32
COMEX Copper futures pulled back today, sliding under $4.70 per pound mark amid mostly weak cues from the equities in Asia and Europe. The metal currently trades down 0.59% at $4.68 per pound, giving up some of the latest gains. The metal had spiked 3.50% in last week. Equities were muted in Asia as China's Shanghai Composite index eased 0.19% while Hong Kong's Hang Seng plunged 1.85%. Japanese Nikkei index added 0.28%, recovering a bit after latest tumble. European stocks slipped with major indices losing around half a percent on the day. On Friday, the US stocks saw modest gains with Nasdaq up 0.7%, S&P 500 rising 0.6%, and Dow up 0.5%. Semiconductor, utilities and telecom stocks led the rally while airline and retail sectors struggled. MCX Copper futures are trading at Rs 879.05 per kg, down 0.36% on the day after testing lows near Rs 874 per kg earlier in the session.

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