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Commodity News Details
MCX Copper plummets near Rs 790 per kg in intraday moves
07-Apr-2025 17:52
COMEX Copper futures stayed glued to three month low as extremely weak sentiments owing to the US tariff measures kept the commodity under stress. COMEX Copper futures are currently down 1.65% at $4.32 per pound after losing around 9% in last session. Asian stocks crashed today. China's Shanghai Composite index melted 7.34% while Hong Kong's Hang Seng index tanked 13%. Japan's Nikkei index fell around 8% too. European stocks saw deep losses. The German DAX index and French CAC tanked 4%. UK's FTSE 100 shed around 3.70%. The US stocks melted yet again on Friday, witnessing a debacle as trade worries hurt sentiments. The S&P 500 plummeted 6% while Nasdaq lost 5.8%. The Dow crashed 5.5% to test eight month low. The tech-heavy Nasdaq is now down more than 20% from its record high in December. The deep correction in global Copper also pulled down MCX Copper futures near Rs 790 per kg in intraday moves. The counter currently trades at Rs 804 per kg, down 0.10% on the day as weak INR capped losses.

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