Copper moves up from two-week low as stable undertone in equities offers support

COMEX Copper futures moved up from around two-week low as stable undertone in equities capped losses. The red metal currently trades at $6.58 per pound, up 0.82% on the day. MCX Copper is 0.49% at Rs 1406.40 per kg after hitting a high of Rs 1407.50 per kg. Meanwhile, Asian stocks rose broadly on Monday, with markets in mainland China and South Korea closed for holidays. The Nikkei average closed 2.4% after testing 70,000 for the first time in three months. Hong Kong?s Hang Seng added 0.28%. European stocks saw mixed action on Monday. The US stocks ended higher on Friday. Dow Jones gained 0.49%, while the S&P 500 index rose 0.74%, and the NASDAQ Composite index added 1.19%.

Powered by Commodity Insights