Copper sees tight moves ahead of weekend

Copper futures are holding up in a range amid mostly choppy equities ahead of the weekend. The metal is also focussing on firm US dollar index and COMEX Copper futures are currently quoting at $5.75 per pound, up 0.30% on the day. The US dollar index is consolidating near four-week high. Meanwhile, in Asia, Hong Kong?s Hang Seng index lost 1.10% and Japanese NIKKEI 225 index shed 1.12%. Mainland Chinese markets remained shut for the Lunar New Year holidays. European stocks rose modestly ahead of weekend. The US stocks slipped yesterday as earnings stayed in focus. The Dow slid 0.5%. Copper is down around 3% this month with a sustained uptick in LME Copper inventories capping advances. MCX Copper futures are quoting at Rs 1169.35 per kg, up 0.78% on the day amid a weak Indian Rupee.

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