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Commodity News Details
Weekly Copper Review: Metal Pushes Up To Two Year High
04-May-2024 15:21
COMEX Copper futures are staying supported at a two year high amid positive risk sentiments and sustained decline in LME copper inventories. The counter has zoomed around 20% compared to same time last year. The upturn in global manufacturing was sustained into April, as rising intakes of new work and a slight expansion of international trade volumes supported mild production growth. There were also signs of price pressures building, as rates of increase in both input costs and selling prices accelerated. The J.P.Morgan Global Manufacturing PMI ? a composite index produced by J.P.Morgan and S&P Global Market Intelligence in association with ISM and IFPSM ? dipped to 50.3 in April, down from March's 20-month high of 50.6 but above the neutral 50.0 mark for the third consecutive month.

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