Copper drags near Rs 886 per kg on MCX

COMEX Copper futures tanked today, witnessing continued selling pressure as US President Donald Trump has stated that countries which side with the policies of the BRICS alliance that go against US interests will be hit with an extra 10% tariff. The red metal eased further from a three-month high and tested a one-week low today. It currently trades at $5.02 per pound, down 2.30% on the day with steady equities offering some intraday support. In Asia, Chinese Shanghai Composite index closed flat- holding around seven-month high. Hong Kong's Hang Seng index fell 0.12%. Japanese NIKEEI eased further to close with a loss of around 0.56%. European stocks stayed largely supported though with German DAX gaining 0.60%. MCX Copper futures are down 0.16% at Rs 890.45 per kg after testing a low of Rs 886.25 per kg.

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