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Commodity News Details
Copper Under Stress, COMEX Futures Test Two And Half Month Low
26-Jun-2024 18:02
Copper was bruised today as the metal tanked under $4.40 per pound mark amid sustained losses on demand worries from China. Copper fell as the US dollar regained momentum overnight on hawkish comments from Fed and as equities stay choppy. Sustained rise in LME copper inventories are also hurting the sentiments and COMEX Copper is currently quoting at $4.34 per pound, down 0.71% on the day. These are the lowest levels in two and half months. Meanwhile, Asian markets stayed broadly supported. China?s Shanghai Composite index rose 0.76% while Japan?s Nikkei 225 index rallied 1.26%. European stocks saw mixed moves. German DAX index rose 0.47% and French CAC eased 0.19% on the day. UK?s FTSE 100 added 0.31%. On the Wall Street yesterday, the Dow fell 0.76% while Nasdaq climbed 1.26% and S&P 500 rose 0.39%.

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