Copper Futures In Reverse Gear

Copper futures plunged over 1 per cent during afternoon trade in the domestic market on Wednesday as investors and speculators exited their positions in the industrial metal amid rising geopolitical tensions with North Korea and ahead of Easter holiday.

Chinese President Xi Jinping called for a peaceful resolution of rising tensions on the Korean peninsula in a telephone conversation with the US President on Wednesday, as a US aircraft carrier strike group steams towards the region.

At the MCX, copper futures for April 2017 contract is trading at Rs 369.25 per kg, down by 1.07 per cent, after opening at Rs 371.55, against a previous close of Rs 373.25. It touched the intra-day low of Rs 368.40.

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Suhani Verma

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