MCX Copper hits Rs 890 mark

COMEX Copper futures stayed well supported today as a dip towards one-week low triggered decent upmove in the metal ahead of the weekend. Steady equities and a slight drop in the US dollar index also played their part and the red metal is currently quoting at $5.60 per pound, up 1.10% on the day. In Asia today, Chinese Shanghai Composite index rose 0.50% while Hong Kong's Hang Seng index jumped 1.30% - both hitting three-year highs. European stocks edged up modestly. German DAX is up 0.40%. The US stocks stayed supported as the S&P 500 and Nasdaq closed at record highs on Thursday. On MCX, Copper futures are currently quoting at Rs 887.45 per kg, up 0.55% on the day after hitting Rs 890 per kg mark.

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