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Commodity News Details
Copper pushes up above $4.20 mark
26-Aug-2024 17:26
COMEX Copper futures are holding up around five week high as positive cues from global equities kept the red metal supported. The counter is currently trading at $4.21 per pound, up 0.36% on the day as a recent bounce above $4 per pound extended. Meanwhile, in Asia, China's Shanghai Composite index ended slightly up while Hong Kong's Hang Seng index added 1%. Japanese Nikkei 225 index fell 0.66%. European stocks stayed positive amid firm cues from US equities. US stocks surged on Friday as hopes of softening interest rates boosted the risk appetite. All major US equity indices jumped, with the Dow and the S&P 500 reaching their best closing levels since reaching record highs in mid-July. This surge in the US equities propelled COMEX Copper up by around 1.30% on the day.

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