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Copper Sees Mild Gains, Equities Fall In Europe
(02-Dec-2021, 18:00 Hours IST)
Copper tried to edge up today but flipped back amid weak European equities. European stocks slipped amid volatile trades with major indices sliding around 1%. The metal had edged up from a two week low in last session on very tight inventories on LME. Overall sentiments are very cautious as traders are keeping a watch on the Omicron spread. The J.P.Morgan Global Manufacturing PMI edged down to 54.2 in November, little-changed from readings achieved in the prior three months. This data is likely to keep the broad undertone steady for the metal in near term. The COMEX Copper futures are currently trading up 0.46% at $4.27 per pound. MCX Copper futures trade at Rs 721.80 per kg, up 0.35% on the day after hitting a high of Rs 725 per kg in intraday moves.

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