COMEX Copper up reverses yesterday's gains, falls more than 1%
Mumbai, May 21 -- COMEX Copper pulled back on selling in Chinese equities and tepid economic cues from Europe. The red metal currently quotes at $6.26 per pound, down 1.10% on the day after zooming up nearly 2% in last session. Chinese stock markets fell sharply today as Shanghai Composite Index lost around 2% to close at 4077 - testing near three-week low. Chinese markets eyed currency market moves as China's central bank set the yuan's daily reference rate against the US dollar at its strongest level in more than three years. Meanwhile, in Europe, Eurozone Composite PMI slipped to 47.5 in May from 48.8 in April and stayed below the 50.0 no-change mark for the second successive month. MCX Copper futures also turned lower as highs around Rs...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.