Copper futures on India’s Multi Commodity Exchange (MCX) have entered a pronounced downtrend, shedding 5.8% throughout June.
The decline was triggered early in the month when prices failed to breach the critical ₹1,400 per kg resistance level, signaling weakening momentum in the industrial metal market.
After hitting a monthly low of ₹1,240.15 on June 24, July copper futures attempted a recovery but remain under pressure.
Current trading levels hover around ₹1,258 per kg, well below the psychological barrier that has capped upside potential.
The persistent inability to clear ₹1,400 suggests that sellers remain in control, with technical indicators pointing to further downside risk.
Analysts from Hindu Businessline’s research bureau advise traders to sell copper futures at ₹1,275, citing a weak overall market outlook.