Copper rangebound on Monday

COMEX Copper futures are trading in a rangebound manner today, not witnessing much of a change amid choppy equities. In Asia, China's Shanghai Composite index added 0.07%. Hong Kong?s Hang Seng index fell 0.93% while Japanese Nikkei index soared 2.12% on advances in tech stocks. European stocks saw tight moves today. The US stocks slipped on Friday after nonfarm payrolls report showed a strong rebound in last month, prompting traders to raise expectations for a Federal Reserve rate hike this month. Soaring oil prices also weighed on sentiments. COMEX Copper futures are currently trading at $6.68 per pound, almost unchanged on the day. MCX Copper futures are quoting at Rs 1383.75 per kg, up 0.38% on the day.

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