Base Metals Preview: Copper down around 6% this week

COMEX Copper futures edged up from a seven-week low yesterday despite choppy equities. The red metal has slumped this week but pushed up by more than 2% yesterday as LME Copper inventories fell near three-month low. US dollar continues to dominate sentiments for the metal as COMEX Copper has lost around 6% this week. MCX Copper ended at Rs 1263.10 per kg in last session, up 0.11% on the day and should see a mixed start today. Global equities are mostly witnessing choppy to weak movement ahead of the weekend.

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