---
title: "MCX Copper: 6.89% Plunge Breaches 20-SMA at ₹1368"
description: "MCX Copper collapses 6.89% to ₹1367.90/kg, breaching the 20-SMA zone — while Silver surges 3.99% to ₹262900. Extreme divergence across the metals complex."
date: "2026-06-03"
time: "12:05 am"
edition: "hawk-scan"
commodity: "MCX Copper"
tags: ["MCX Copper", "MCX Silver", "MCX Nat Gas", "MCX Gold"]
priceAtPublish: 1368

hawkTrigger: "price"
---

---

**TRIGGER —** MCX Copper crashed 6.89% in a single session — more than double the 3% Hawk-Scan threshold — printing ₹1367.90, directly at the 20-SMA.

**PRICE —** ₹1367.90 · ▼6.89% · PLUNGING

**SIGNAL —** COMEX Copper's session loss of 0.83% at $6.49/lb signals demand destruction fears, likely driven by deteriorating global industrial output expectations or a sharp macro risk-off shift amplified by INR strength at ₹95.71.

**CROSS-ASSET —** Silver is surging +3.99% to ₹262,900 and Nat Gas is spiking +2.48% to ₹310/mmBtu — a classic flight from base metals into monetary and energy assets.

**IMPORT COST —** COMEX $6.49/lb × 2.2046 × ₹95.71 × 1.0500 (duty) = ≈ ₹1,435/kg MCX parity — spot is trading at a steep ₹67 discount to landed cost.

**TECHNICAL —** Immediate support cluster sits at ₹1364 (day low) and ₹1358 (next structural support); resistance compresses tightly at ₹1368–₹1369, which is also the 20-SMA.

**WATCH —** ₹1358 — a weekly close below this level would historically confirm the monthly range floor breakdown from ₹1342.