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Commodity News Details
Copper near two week high, equities steady
04-Nov-2024 17:38
Copper rose today, adding good gains as positive leads from equities pushed up the metal above $4.40 per pound mark. The counter currently trades at $4.41 per pound, up 0.88% on the day and is near a two week high. Sustained fall in LME Copper inventories which are lingering near three month low and hopes of further Chinese stimulus are boosting the red metal. The 14th National People's Congress or NPC Standing Committee (NPCSC), will convene for its twelfth session from November 4 to 8 and could offer fresh cues on current economic status of the country. Meanwhile, China's Shanghai Composite index rose 1.17%. Hong Kong's Hang Seng index added 0.30%. Japanese markets were closed today for a local holiday. European markets saw modest gains today.The US markets ended firmly in positive territory on Friday, keeping overall mood steady for global risky appetite today.

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