Weekly Copper Review: COMEX futures hit record high

Copper futures rose sharply to hit record highs but failed to sustain and corrected thereafter. The metal tanked as a sharp spurt in the US dollar index hurt the metal after its recent spurt. COMEX Copper ended almost flat for the week at $6.29 per pound. Equities witnessed some turbulence and the DOW slipped near one-week low, capping upside in copper. However, the metal is still up around 5% for this month. MCX Copper futures hit above Rs 1400 per barrel but pulled back and drifted near Rs 1330 per kg.

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