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Commodity News Details
Copper gains ahead of weekend
23-Aug-2024 17:30
COMEX Copper futures are witnessing steady moves today after a hurried drop in last session. Firm equities are supporting the red metal after it eased from a three week high yesterday. The counter currently trades up 0.51% at $4.17 per pound. Elevated inventories remains a limiting factor for the commodity though sustained weakness in the US dollar index is supporting gains after recent declines. Meanwhile, in Asia today, China's Shanghai Composite index added 0.20% while Hong Kong's Hang Seng index eased 0.16% Japanese Nikkei 225 index rose 0.40%. European stocks edged up with indices in Germany and France rising more than half a percent. US stocks came under considerable selling pressure over the course of the trading session on Thursday amid profit taking. COMEX Copper lost around 1% as a result.

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