Mumbai, May 16 -- Copper futures rose sharply to hit record highs but failed to sustain and corrected thereafter. The metal tanked as a sharp spurt in the US dollar index hurt the metal after its recent spurt. COMEX Copper ended almost flat for the week at $6.29 per pound. Equities witnessed some turbulence and the DOW slipped near one-week low, capping upside in copper. However, the metal is still up around 5% for this month. MCX Copper futures hit above Rs 1400 per barrel but pulled back and drifted near Rs 1330 per kg.
Published by HT Digital Content Services with permission from Capital Market....