On Monday, COMEX Copper futures jumped as supportive US equities and hopes of a recovery in Chinese demand pushed up the red metal above $3.50 per pound. The commodity has been rising after testing a one-week low despite a firm US dollar as the market focused on cues from China. Media reports stated that the southwestern Chinese city of Chengdu had announced plans to lift Covid related lockdown after more than two weeks of curbs. Asian equities are up, too, keeping the metal elevated. COMEX Copper futures are up 0.74 per cent at $3.63 per pound. MCX Copper futures are trading at Rs 652.50 per kg, up 0.62 per cent on the day on firm global cues. 

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On the 1st of September 2022, Copper fell under $3.50 per pound amid poor cues from equities and worries over the Chinese economy. Mostly, Asian markets saw weak activity amid the Chinese Covid-19 scare and overnight weak cues. European shares tanked in early moves and extended the losses. DOW dropped, extending the recent losing spree ahead of key economic releases ahead in the week. COMEX Copper is down 2 per cent at $3.44 per pound. MCX Copper futures are also down 1.70 per cent at Rs 638.60 per kg.