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Commodity News Details
Copper crashes near $4 per pound mark as Dollar holds firm
22-Nov-2024 18:10
Sustained gains in US dollar index are weighing on Copper as the red metal fell sharply today following a slide under $4.10 per pound mark. COMEX Copper futures currently trade at $4.07 per pound, down 1.33% on the day, not able to hold onto recent rally from three month low. Equities mostly stayed lax today. In Asia, China's Shanghai Composite index lost 3% to test two week low as earnings stayed lax. Hong Kong's Hang Seng index fell 1.89%. Japanese Nikkei index added 0.68%. European markets mostly fell today. US stocks moved mostly higher yesterday with DOW leading the charge. The Dow jumped 1.1% but failed to lift sentiments much for risky assets today as the US dollar index consolidated around 107.60 mark and capped industrial commodities. On the MCX, Copper futures are trading at Rs 803.40 per kg, down 0.72% on the day as highs around Rs 410 failed to hold.

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