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Budget News

  • Copper Surges Amid Supportive Cues From European Equities
  • December 06,2021  17:16
  • COMEX Copper futures edged up amid supportive cues from the European equities today. European stocks moved up with the German benchmark DAX surging 0.76%. Copper has been mostly in a range over last few days as traders are trying to assess the impact of the Omicron threat on world economy. The World Health Organization on Friday said the Covid omicron variant has been detected in 38 countries, up from 23 two days ago, with early data suggesting the strain is more contagious than delta. COMEX Copper has been eying the recent decline in LME Copper inventories and weakness in the US dollar too as losses were capped after the metal tested a two week low few days back. The counter currently trades up 0.80% at $4.30 per pound. MCX Copper futures are trading at Rs 728.85 per kg, up 0.81% on the day.

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