Copper holds above Rs 1200 per kg on MCX

Copper futures are witnessing steady moves, holding in a tight range as global geopolitical worries are capping the overall action. The red metal currently trades marginally up at $5.89 per pound. MCX Copper futures are up 0.14% at Rs 1205.30 per kg as lows around Rs 1200 per kg offered good support. Meanwhile, Asian markets turned lower on sustained Iran worries. China?s Shanghai Composite eased 0.10% while Hong Kong?s Hang Seng index lost 0.70%. Japan?s Nikkei 225 index lost 1%. European markets saw modest losses. The US stocks saw choppy moves on Wednesday with the Dow Jones dropping 0.61%.

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