MCX Copper hits near Rs 910 per kg before pulling back

COMEX Copper futures spiked more than 1% yesterday amid firm cues on demand front. Global manufacturing operating conditions improved to the greatest extent since June 2024 in August, as levels of output, new orders and employment all returned to growth. The J.P.Morgan Global Manufacturing PMI ? a composite index produced by J.P.Morgan and S&P Global Market Intelligence in association with ISM and IFPSM ? rose to 50.9 in August, from 49.7 in July, to signal a slight improvement in operating conditions. Copper scaled up five-week high near $4.70 per pound today but witnessed some resistance. It currently trades at $4.63 per pound, down 0.16% on the day. MCX Copper futures are trading at Rs 904.35 per kg, down 0.31% on the day after hitting around Rs 909.50 per kg in intraday moves.

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