Copper Corrects Sharply, COMEX Futures Tumble 1.5%
Mumbai, May 8 -- COMEX Copper corrected heavily today as a rally towards two year high seems to have turned around. Hefty drop was seen in the metal today despite mixed cues from equities. COMEX Copper futures are trading at $4.53 per pound, down 1.45% on the day. Copper started on a dull note in Asia as Asian stocks eased on corrective selling. China's Shanghai Composite index fell 0.61%. Japanese Nikkei index lost 1.60%. Hong Kong's Hang Seng index eased 0.90%. European stocks saw good gains though. German DAX rose 0.52% while French CAC has soared 1%. UK's FTSE100 index gained 0.51%. In overnight trades, the US stocks continued to stay supported. Dow closed higher for the fifth consecutive session, reaching its best closing level in a mo...
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