MCX Copper Price Falls -0.68% After Exceptional 1.13% Surge

The copper price on MCX settled at Rs 1,373.80/kg on August 18, down -0.68% from the previous day's close after a 1.13% surge.

Ankit Jaiswal notes that this correction is normal and a result of profit-taking after yesterday's exceptional price increase.

The underlying demand drivers for copper remain intact, with India's infrastructure push and China's construction sector continuing to support the metal.

Kunal Singla adds that the RSI (Relative Strength Index) has corrected from overbought levels to neutral, which is a healthy development for the copper price going forward.