MCX Copper futures slide under Rs 1390 per kg

COMEX Copper futures slipped today while overall movement was rangebound. The red metal currently trades at $6.55 per pound, down 0.89% on the day. Prices are hovering around lowest in last one-week as mixed undertone in equities is capping major breakouts in the metal. In Asian equities, China?s Shanghai Composite Index eased 0.60%. In Hong Kong, the Hang Seng index lost 0.90%. Japan?s Nikkei 225 Index added 0.85%. European stocks moved up with indices in Germany and France rising around half a percent. The US stocks closed mixed on Tuesday amid strong corporate earnings and a retreat in treasury yields. The overall undertone was positive after recent recovery in major indices. MCX Copper is trading at Rs 1388.75 per kg, down 0.71% on the day.

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