Copper hits one and half week high

COMEX Copper futures continued to rise today and hit one and half week high of $5.66 per pound amid mostly supportive equities. In Asia, Chinese Shanghai Composite index rose 0.72% while Hong Kong's Hang Seng index jumped 0.68% - both holding at three-year highs. Japanese stock market was closed due to a holiday today. European stocks saw tight moves amid lack of major economic cues. The US stocks stayed largely supported last week, generally keeping risk appetite positive and assisting Copper. The red metal is currently trading at $5.63 per pound, up 0.48% on the day. On the MCX, Copper futures are currently trading at Rs 897 per kg, up 0.58% on the day after nearing Rs 899 per kg in intraday moves.

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