Copper turns lower, MCX futures under Rs 1400 per kg

COMEX copper futures eased on Thursday after hitting historic high level in the previous session as profit selling weighed on the counter. Weak cues from Chinese equities also played a part and the commodity is currently quoting at $6.63 per pound, down 0.81% on the day. China stocks eased from a decade high as Yuan hit around three-year high. The Shanghai Composite Index lost 1.52%. In Japan? the Nikkei 225 Index fell around 1%. However, risk appetite improved in Europe as major indices rose across the board with German DAX soaring 1.30%. The US stocks ended mixed yesterday with the DOW easing marginally while NASDAQ and S&P added good gains. MCX Copper futures are down 0.23% at Rs 1395.65 per kg with highs around Rs 1400 per kg capping the upside.

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