(16 May 2025, 17:47)

COMEX Copper sees heavy selling pressure, Asian equities drop

COMEX Copper pulled back sharply in Asia amid weak equities. The metal had gained in last session but it seems that trade related push is turning weak now. China's Shanghai Composite index dropped 0.40% while Hong Kong's Hang Seng index ended down 0.46 percent at 23,345.05. Japanese markets ended on a flat note as new data showed Japan's economy contracted an annualized 0.7% in the first quarter of 2025, marking the first contraction in four quarters. Copper did cut some losses in afternoon as major European equity indices turned higher and supported the red metal. Weak US dollar index also curbed losses but overall sentiments stayed lax and counter currently trades at $4.59 per pound, down 1.80%. MCX Copper is down 1% at Rs 854 per kg.

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COMEX Copper sees heavy selling pressure, Asian equities drop