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As on: Jun 21, 2019 05:27 AM
Copper Slides 1% As Equities Turn Bearish
12-Jun-19   17:11 Hrs IST
COMEX Copper futures tumbled today after recent gains as profit selling hurt the sentiments. Equities eased around the globe as trade concerns and lingering worries about slowing global growth pulled buying interest. Trade tensions intensified after US President Donald Trump said that he was holding up a trade deal with China. This led to a sizable drop in Asian shares with stocks in Hong Kong crashing around 2% and Chinese shares falling 0.56%. Major European indices are also witnessing steep losses with shares in UK down 0.76% and German stocks falling 0.60%. This has pulled off COMEX Copper too and the metal currently trades down 1% at $2.64 per pound. MCX Copper futures are also down 0.89% to trade at Rs 406.55 per kg.

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