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Commodity News Details
Copper sess wild gains on China stimulous, breaks well above $4.40 per pound mark
24-Sep-2024 18:19
COMEX Copper futures flared up today, breaking above $4.40 per pound mark and hitting fresh highs in two months amid China demand hopes and weakness in the US dollar index. The counter is up 2.60% at $4.46 per pound. China's Shanghai Composite index surged 4.15% marking its biggest single-day gain in more than two years. Hong Kong's Hang Seng index also soared 4.13%. China's central bank announced a slew of stimulus measures amid weak domestic activity and rising deflationary pressures. European market edged up with French stocks rallying impressively. US equities closed higher on Monday and the Dow and S&P 500 posted record highs. On the MCX, Copper futures scaled up 1.83% to Rs 835.85 per kg after falling near Rs 813 per kg in intraday moves.

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