Copper down more than 3% this week

COMEX Copper futures moved lower and held around three and half month low of $6.26 per pound amid weak equities. The metal lost around 3.50% this week. Asian stocks lost heavily today. China?s Shanghai Composite Index fell 1.10%. In Hong Kong, the Hang Seng index dipped 1.27%. Japan?s Nikkei 225 Index slumped around 6% on tech sector worries. European stocks fell across the board with major indices losing more than 1%. The US stocks plummeted on Thursday, erasing the sharp gains from the rally seen following the US midterm elections. Technology stocks came under deep pressure on fears of a data-center boom slowdown. COMEX Copper fell around 2.50% in last session amid this deep correction.

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