MCX Copper zooms near Rs 1300 per kg, spikes more than 5%

COMEX Copper futures saw an excellent recovery from one-month low as supportive equities boosted the metal. The commodity currently trades at $6.01 per pound, up 3.10% on the day. A steep drop was seen in the last session but gains in US equities had curbed losses in intraday moves. Meanwhile, risk appetite was stable today. In Asia, Shanghai Composite index added 1.29% after heavy collapse in last session. Hong Kong's Hang Seng index edged up 0.22%. Japanese Nikkei 225 index spiked around 4% to record high. European stocks spiked as German DAX surged more than 1%, The US stocks gained on Monday. The major averages all moved to the upside on the day following mixed outing in last week as supportive economic cues boosted sentiments. The Dow soared 1.1%. On MCX, Copper futures are trading at Rs 1283.50 per kg, up 5.30% on the day after approaching near Rs 1300 per kg.

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