Copper gains in Asia despite lax equities as $6 per pound caps losses

COMEX Copper futures rose in Asia as one-week low mark capped losses for the metal. Copper had dipped in last session amid cautious trades as equities are offered lax cues in US. However, the US retail sales surged by 1.7 percent in March after climbing by an upwardly revised 0.7 percent in February and reflecting steady momentum for consumer spending. This pushed up Copper while the metal also stayed supported around the critical $6 per pound level. COMEX Copper currently trades up 0.90% at $6.06 per pound despite mostly weak Asian equities. MCX Copper futures are up 0.94% at Rs 1276.90 per kg after a firm opening above Rs 1270 per kg. The counter hit Rs 1277 per kg in intraday moves.

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