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(31 May 2024, 17:50)

Copper stays lax

A mixed to weak undertone in global equities weighed on Copper futures today. The red metal had tanked around three percent in last session and stayed slippery today also. COMEX Copper futures are trading at $4.64 per pound, down 0.35% on the day, lingering around two and half week low. Meanwhile, in Asia, China’s Shanghai Composite index pared 0.16% while Japan’s Nikkei 225 index rose 1.1%. Hong Kong’s Hang Seng index lost 0.83%. European stocks eased with German DAX and French CAC slipping marginally. US stocks extended losses in last session. DOW drifted to its lowest closing level in almost a month, falling 0.9% on the day. On MCX, Copper futures are trading flat at Rs 877 per kg with weakness in INR capping losses.
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