Copper slumps, MCX futures under Rs 900 per kg

COMEX Copper futures slumped today, giving up latest gains as weakness in Asian stocks weighed on the metal. The commodity currently trades at $4.55 per pound, down 1.60% on the day and pulling back from a five-week top. Meanwhile, equities stayed cautious ahead of the US nonfarm payrolls data. China's Shanghai Composite index fell 1.25%, falling further after recent gains. Hong Kong's Hang Seng dropped 1.25%. Japanese Nikkei average spiked 1.25%. European stocks saw modest gains. The tech-heavy Nasdaq jumped around 1% and the S&P 500 climbed 0.5%. The Dow eased 0.1% though, keeping US equities somewhat mixed yesterday. On MCX, Copper futures broke under Rs 900 per kg and currently trade at Rs 899.55 per kg, down 0.73% on the day.

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