MCX Copper slides 0.80% as risk sentiment cools

WHAT HAPPENED MCX Copper fell to 1313.8 INR/kg at 05:50 pm IST, down 0.80% from the previous close. The decline follows a broader pullback across the MCX complex: Gold dropped 1.06%, Silver 2.07%, Crude 1.45%, and Natural Gas 1.44%. The rupee weakened 0.75% to 95.84 INR, offering some offset to the metal's downside pressure as global risk sentiment retreated.

WHAT IT MEANS Copper's retreat from the 1334.05 INR/kg peak at 04:23 pm IST signals a reversal of the afternoon's broad-based strength. For MCX futures traders, the 1313.8 level now represents reduced intraday momentum. The synchronized weakness across precious metals, energy, and base metals suggests macro headwinds—possibly dollar strength or demand concerns—are overriding the earlier rally structure.

WHAT TO WATCH Monitor the 1310 INR/kg support level. A break below would confirm the pullback has legs; a rebound toward 1325 would signal stabilization and potential reinstatement of the earlier uptrend.