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Commodity News Details
COMEX Copper futures slump to three week low
15-Oct-2024 17:09
COMEX Copper futures slumped today as recent selling spree stayed in place. China's Shanghai Composite index lost 2.53% as reports of extensive military drills by China around Taiwan weighed on sentiments. Equities turned choppy globally and COMEX Copper broke under $4.40 per pound mark. The metal currently quotes at $4.34 per pound, down 1.50% on the day and falling to three week low. European markets mostly eased with UK's FTSE100 index losing around half a percent. Copper has lost around 4.60% in October so far. Meanwhile, the US dollar index holds near 103 mark as Federal Reserve Governor Christopher Waller has called for more caution on interest rate cuts.

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