COMEX Copper bounces from three-week low

COMEX Copper futures recovered after testing three-week low in last session. The red metal had lost more than 2% yesterday but moved up today amid stable cues from equities. The counter currently trades at $5.98 per pound, up 2.44% on the day. Asian stocks saw choppy moves as major markets in the region, China, Japan and South Korea were closed. European stocks moved up in cautious trades. The US stocks moved to the downside on the day, with the Dow showing a notable decline of more than 1%. Copper eyed supportive trends in global manufacturing sector. The headline global manufacturing PMI has remained above the neutral 50.0 mark for nine successive months. MCX Copper futures are trading at Rs 1284.95 per kg, up 0.64% on the day.

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