Copper dips around 1%

COMEX Copper futures melted around 2% in last session and stayed weak today as well. The red metal is down 1% at $6.43 per pound, lingering around three-week low. In Asia, equities turned lower on tepid overnight cues. China's Shanghai Composite index tanked 2.40% on worries posed by soaring oil prices. Hong Kong?s Hang Seng index was flat while Japanese Nikkei index melted 3.16%. European stocks saw limited action yet again. The US markets continued to soften. The Dow Jones slipped 0.22%. The S&P 500 drifted lower 0.67% and the NASDAQ Composite edged lower 1.33%. MCX Copper futures fell 0.53% to trade at Rs 1361.25 per kg.

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