Copper in red, down more than 1%

COMEX Copper futures are turning lower today in an overall choppy trend as Chinese markets remain shut. The metal is finding it difficult to hold onto rallies amid a sustained rise in LME Copper inventories which have soared near one-year high. COMEX Copper futures are currently trading at $5.72 per pound, down 1.28% on the day. Meanwhile, in Asian equities overall movement was thin but markets were supported, Japanese NIKKEI 225 index added 0.57%. South Korea's benchmark Kospi average soared 3% to a fresh record while Australian benchmark S&P/ASX 200 jumped 0.88% to four-month high. European stocks eased modestly. The US markets rose yesterday as tech‑heavy Nasdaq outperformed. The Nasdaq advanced 0.8%, the S&P 500 added 0.6% and the Dow rose 0.3%.

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