Copper falls sharply amid weakness in Asian equities

Selling in Asian equities weighed on Copper today. The red metal had edged up in last session but flipped back today and currently trades at $6.44 per pound, down 1.49% on the day. Asian stocks slipped yet again. China's main CSI300 index dropped 0.74%. Hong Kong's benchmark Hang Seng index dropped 1.15%. Japan?s Nikkei average fell 1.31%. Copper rose 0.40% yesterday as DOW spiked 1.73%. MCX Copper futures also lost 1.45% to trade at Rs 1356.20 per kg amid a firm undertone in the Indian Rupee. The counter tested lows around Rs 1354 per kg at least three-times during the session. The open interest in the counter has edged up modestly today and overall mood has been choppy.

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