MCX Copper dips near Rs 885 per kg

COMEX Copper futures pulled back today, easing from near two-week high as some profit selling emerged in the red metal. Equities were mixed. In Asia, Chinese Shanghai Composite index rose 0.46% while Hong Kong's Hang Seng index added 0.37%. Japanese Nikkei average fell 1.45%, coming off a record high seen yesterday. European stocks edged up modestly. US stocks stayed supported with the Nasdaq and the S&P 500 hitting new record closing highs. DOW spiked 1%. COMEX Copper futures currently quote at $4.47 per pound, down 0.56% on the day. The metal had eased around 0.60% in last session and stayed under stress today as well. Worries over Chinese demand weighed as market reports stated that China's new yuan loans declined in July for the first time in 20 years. On the MCX, Copper futures are currently trading at Rs 885.60 per kg, down 0.28% on the day.

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