MCX Copper under pressure afrer sliding under Rs 900 mark

COMEX Copper futures tanked near $5 per pound today as the metal continued to face resistance around three-month high. Market remains cautious on US trade deal deadline on July 9th and profit selling is dragging the red metal down after nearly 8% rally in last month. COMEX Copper futures are currently quoting at $5.05 per pound, down 1.69% on the day. On MCX, a break under Rs 900 per kg mark triggered hefty losses for local futures and the counter currently trades at $892.30 per kg, down 0.73% on the day. In Asia, Chinese Shanghai Composite index gained 0.32%, holding around seven-month high. Hong Kong's Hang Seng index fell 0.64%. Japanese NIKEEI closed flat. European stocks eased marginally as US trade deal deadline approached. The US stocks extended recent winning streak. With the continued advance, the Nasdaq and the S&P 500 once again hit record closing highs.

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