COMEX Copper futures saw good gains today, adding to recent upmove amid a sustained drop in LME inventories recently. The metal is currently trading at $4.31 per pound, up 1.30% on the day and approaching highest levels in last two months. Copper is rising despite mixed cues from equities this week. Global stock markets were choppy today as well. In Asia, China's Shanghai Composite index closed down 0.58%. Hong Kong's Hang Seng index eased 0.20%. Japanese Nikkei index lost around 1%. European stocks saw mixed action with UK stocks witnessing some gains and other indices seeing limited movement. The US stocks saw a tight movement yesterday as markets shifted their attention to nonfarm payrolls data due tomorrow. On the MCX, Copper futures are trading at Rs 823.85 per kg, up 0.15% on the day after hitting a high of Rs 827.45 per kg amid sustained weakness in Indian Rupee.

Powered by Commodity Insights