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Commodity News Details
Copper Soars Sharply On Firm Equities
28-Jun-2024 18:04
COMEX copper saw a good rebound after testing its lowest level in over two-months yesterday as firm equities boosted the metal. Persistent demand concerns, rising LME inventories and weak cues from China have been bettering the red metal. Prices fell near $4.30 per pound yesterday but the metal edged up thereafter and COMEX Copper is currently trading up 1.40% at $4.40 per pound. In Asia, China?s Shanghai Composite index soared 0.73%, coming off a four month low. Japan?s Nikkei 225 index rose 0.61%. European stocks mostly rose after recent weakness. German DAX index gained 0.72% while French CAC eased 0.32% on the day. UK?s FTSE 100 jumped 0.57%. US stocks ended modestly higher on Thursday. Dow edged up 0.1%.

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