Copper falls more than 1%, US housing market weighs

Copper turned down today as weak cues from the US housing market weighed on the sentiments. The National Association of Realtors reported that its Pending Home Sales Index, which measures signed contracts for existing homes in US, fell slightly in January 2026. The index dropped 0.8% from the previous month to 70.9 ? the lowest level ever recorded. Copper added to losses seen on Tuesday and is currently down 1.20% at $5.69 per pound. MCX Copper futures are trading at Rs 1167.35 per kg, down 0.78% on the day. Meanwhile, equities are stabilizing after recent losses. In Asia, China's Shanghai Composite index rose 0.32%, coming off six-week low. Hong Kong?s Hang Seng index added 0.61%. Japan?s Nikkei average soared 3%. European stocks moved up with German DAX gaining 0.86%. The US stocks stayed supported yesterday. The S&P 500 added 0.25% and the Nasdaq Composite climbed 0.47%. The Dow moved up 0.1%.

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