COMEX Copper consolidated in a volatile session today as mixed equities and a rise in Chinese Copper imports dominated proceedings. The red metal currently trades at $4.59 per pound, down marginally on the day and holding just above one-month low. MCX Copper futures are down 0.64% at Rs 850.40 per kg as markets are eying a firm undertone in Indian Rupee against the US dollar. In equities, China's Shanghai Composite index eased 0.30%, easing after gaining in last few days. Hong Kong's Hang Seng index edged up 0.40%. Japan’s Nikkei index spiked 1.60%. European stocks saw modest gains with major indices up around half a percent. The US stocks stayed supported yesterday. Tech- heavy Nasdaq jumped 1.1 percent while the Dow and the S&P 500 added 0.6 percent each. However, China’s copper concentrate imports hit a record high in April, latest data showed today, according to media reports. Copper concentrate imports jumped to 2.9 million metric tons in April, up 25% year-on-year and 22% against March, according to Chinese customs data. Copper concentrate imports year-to-date are up 7.3% to 10 million tons. China’s imports of unwrought copper and copper products in April were unchanged year-on-year at 438,000 metric tons.

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