MTECHTIPS;-MCX Copper Rises From Three Week Low

MTECHTIPS;-MCX Copper Rises From Three Week Low

MTECHTIPS- MCX Copper futures rose today after testing its three week closing low as upbeat equities and supportive US industrial output data offered good support. The red metal has been facing some selling pressure after nearing its four year highs. However, the general undertone in global risky assets is positive and that should limit the losses for the commodity. US stocks jumped on Wednesday following the release of stronger-than-expected quarterly results from key companies. The Dow Jones industrial average rose 322.79 points, closing above 26,000 for the first time. This is keeping the COMEX Copper supported too and the metal is currently trading at $3.193 per pound, up marginally on the day. MCX Copper futures, which tested lows near Rs 450 per kg mark yesterday, opened higher and are currently hovering at Rs 451.70 per kg, up 0.21% on the day

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