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Commodity News Details
Copper Falls After Gaining In Last Session
21-Jun-2024 18:15
COMEX Copper futures drifted lower today amid weak European equities. The metal gave up gains seen in last session and currently trades at $4.49 per pound, down 1.56% on the day amid sustained worries over Chinese demand. Chinese shares eased today, adding to recent wave of losses. Shanghai Composite index slipped 0.24 percent to 2,998.14 after media reports noted that Canada is preparing potential new tariffs on Chinese-made electric vehicles, following similar action taken by the U.S. and European Union. Meanwhile, Japan has also unveiled trade restrictions against firms in China, India, Kazakhstan, and Uzbekistan. The sanctions announced by Japan?s Ministry of Foreign Affairs on Friday mark the first time Tokyo has targeted China-based companies over their alleged links to the Russia- Ukraine war.

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