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Commodity News Details
Weekly Copper Review: COMEX futures off four month high
05-Oct-2024 13:08
COMEX Copper futures eased a bit after hitting four month high above $4.60 per pound mark tracking weakness in equities amid escalating Middle East tensions. Broad demand worries stayed in place. Meanwhile, at 48.8 in September, the J.P.Morgan Global Manufacturing PMI ' a composite index produced by J.P.Morgan and S&P Global Market Intelligence in association with ISM and IFPSM ' showed deterioration in overall operating conditions for the third successive month. Copper ended up around 8% in September 2024 with an overwhelming array of Chinese economic stimulus measures pushing up the futures in last week of the month. A drop in the LME Copper inventories to two month low also offered good support to the metal.

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