Copper in red, equities drift lower
24-Jul-2024
18:30
COMEX Copper futures are trading slightly lower today, consolidating after recent plunge to four month low. The red metal has been hurt by Chinese demand in last few weeks and a choppy risk appetite is capping any gains. The metal currently trades at $4.14 per pound, down 0.35% on the day. Meanwhile, in equities today, China's Shanghai Composite index fell 0.46%, adding to latest losses. Hong Kong's Hang Seng index fell around 1%. Japan's Nikkei 225 index tanked 1.10% as selling pressure stayed in place. European stocks eased today with German DAX soaring more than 0.60%. The US stocks fell yesterday amid political upheaval. US President Joe Biden dropped out of the 2024 presidential election and endorsed Vice President Kamala Harris as the Democratic nominee.
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