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Commodity News Details
Copper slides from one week high
01-Aug-2024 18:32
Tepid cues from global equities weighed on the COMEX Copper futures today after the metal scaled up in last session. COMEX Copper had hit one week high yesterday but failed to sustain today and currently trades at $4.14 per pound, down 0.77% on the day. In Asian markets, China's Shanghai Composite index and Hong Kong's Hang Seng index saw modest losses. Japan's Nikkei 225 index tanked 2.50% on firm moves in Japanese Yen. European stocks eased today after recording good gains in last session. US equities registered a strong performance on Wednesday following the Federal Reserve's monetary policy announcement and positive reaction to some of the latest corporate earnings news. However, this failed to enthuse investors today amid geopolitical risks and sustained worries over Chinese economy.

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