Copper down around 1% as retreat from one-week high extends

COMEX Copper futures fell today as mixed cues from equities capped advances in the metal. In Asia, China's Shanghai Composite index added 0.19% while Hong Kong?s Hang Seng index edged up 0.07% Japanese Nikkei index slumped 2.54% though, giving up from a five-week high. European stocks saw choppy action today. The US markets continued to ease on Monday as rising oil prices led to selling pressure. DOW slipped 0.51%. COMEX Copper futures rose near $6.75 per pound in last session, hitting one-week high but slipped thereafter. The counter currently quotes at $6.56 per pound, down 0.90% on the day. MCX Copper is down 0.39% at Rs 1377.85 per kg after testing lows around Rs 1370 per kg. The open interest in the counter is down marginally today.

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