Hot Commodities: Copper Slips Amid Profit Selling, Shares Lower In Asia

COMEX Copper slipped today, extending a slide from one month high as traders booked profits in the red metal after the recent surge. Asian equities moved lower amid concerns over progress made in trade talks between the US and China – the worlds two largest economic powers. US President Donald Trump noted yesterday that he was not pleased with recent trade talks between the two nations. This has generally weighed on the sentiment and pulled the US equities lower yesterday. The DOW slipped from a two month high and ended down 0.72% on the day. A moderate correction in global crude oil futures also pulled Copper lower and the COMEX Copper futures are currently down 0.77% at $ 3.10 per pound. MCX Copper futures dropped in unison with this and are lingering just above Rs 370 per kg levels. The metal has dropped 0.30% on the day so far.