Copper tries to stabilize after good gains last week

COMEX Copper futures stabilized in a tiny range today as steady equities offered some support while lukewarm economic cues capped upside. China?s industrial production rose 5.2% year-on-year in August, data from the National Bureau of Statistics showed on Monday. This marked a moderation from 5.7% rise seen in July. Copper is quoting at $4.66 per pound right now, down marginally on the day after a 2.22% gain in last week. Meanwhile, in Asia, China's Shanghai Composite index eased 0.26%. Hong Kong's Hang Seng added 0.22%. European stocks edged up with French CAC index rallying around 1%. US stocks ended mixed on Friday though the tech-heavy Nasdaq climbed to a new record closing high. Nasdaq added 0.4% while the Dow fell 0.6%. The S&P 500 index closed flat.

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