COMEX Copper futures are witnessing flat moves today as tepid economic cues from China capped the enthusiasm over positive trade developments. The red metal is currently quoting at $5.79 per pound, almost unchanged on the day. A spike to record highs last week has been failing to sustain amid firm US dollar and rising LME Copper inventories. Latest data showed that Chinese industrial enterprises recorded a total gross profit of Yuan 3.44 trillion for the first half of 2025, slipping by 1.8% on year. Meanwhile, in Asia, Chinese Shanghai Composite index added 0.12% while Hong Kong's Hang Seng index rose 0.68%. Japan's Nikkei average eased though, sliding 1.10% and adding to sharp losses in the last session. European stocks rose with indices in Germany and France gaining around half a percent as US and the European Union have reached a deal on trade. The US stocks rose impressively on Friday with the Dow gaining around half a percent. Meanwhile, MCX Copper rose amid weak Indian Rupee and currently trades up 0.36% at Rs 899.50 per kg. INR eased around 15 paise to close at 86.67 per US dollar holding near one-month low.

Powered by Commodity Insights