Copper pulls back amid mixed equities

COMEX Copper futures eased today amid mixed equities after hitting around three-month top. Prices have swelled amid falling LME Copper inventories and supportive equities. Markets also eyed roadblocks by informal miners that are disrupting transport of copper from some large mines in Peru. COMEX Copper futures spiked around 2% to hit fresh three-month high of $5.20 per pound in last session. However, the counter shed 0.40% to trade at $5.17 per pound. In Asia, Chinese Shanghai Composite index added 0.18%. Hong Kong's Hang Seng index fell 0.63%. Japanese NIKEEI rose marginally after falling this week. European stocks edged higher in cautious trades. The US stocks moved mostly higher on Wednesday, with the Nasdaq and the S&P 500 moving back to the record highs. MCX Copper also pulled back towards Rs 900 per kg mark and currently trades at Rs 901.65 per kg, down 0.41% on the day.

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