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Commodity News Details
Copper Resumes Slide, COMEX Futures Sink Under $4.20 Mark
22-Jul-2024 18:28
COMEX Copper futures extended their losses, sliding amid sustained growth worries and elevated exchange inventories. A mixed to weak undertone in global equities did not help the metal much and the COMEX Copper is currently at $4.17 per pound, down 1.50% on the day. These are the lowest levels in three and half months for the counter. Meanwhile, China's Shanghai Composite index fell 0.61%. Hong Kong's Hang Seng index jumped 1.25% as some buying emerged after latest slide. Japan's Nikkei 225 index dipped 1.16%. European stocks gained after recent corrective moves. US stocks fell on Friday with Nasdaq and the S&P 500 extending the steep drop seen over the two previous sessions. The major averages all finished the day in red. The Dow fell 0.9%, the Nasdaq slid 0.8% while the S&P 500 gave up 0.7%.

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