Copper eases under $4.50 per pound

COMEX Copper futures fell today, sliding in tune with tepid Chinese economic cues. The metal currently trades at $4.46 per pound, down 0.58% on the day, extending losses under $4.50 per pound mark. China's industrial production rose 5.7% in July from a year ago, easing from June's 6.8% increase, the National Bureau of Statistics reported Friday. China?s retail sales growth also eased to 3.7% from 4.8% in June. In another key data, during January to July period, China?s fixed asset investment increased 1.6% from the last year, weaker than the 2.8% rise in the first six months. Meanwhile, equities are steady. In Asia, Chinese Shanghai Composite index rose 0.85% to hit a decade high while Hong Kong's Hang Seng index eased 0.37%. Japanese Nikkei average soared 0.77% to hit a record high. European stocks edged up as investors eyed ongoing US-Russia talks on Ukraine. COMEX Copper is down 0.55% at Rs 882.50 per kg.

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