Copper pulls back near one week low
26-Nov-2024
17:23
COMEX Copper futures pulled back today and tested one week low as mixed to weak global equities capped the upside for the counter. Copper is finding it difficult to hold around $4.10 per pound mark and currently trades down 0.26% at $4.08 per pound. The metal saw a muted session yesterday and has generally been holding in a tight range over last few days. Meanwhile, in Asia today, China's Shanghai Composite index stayed slippery as recent spate of weakness extended. Hong Kong's Hang Seng index ended flat. Japanese Nikkei index fell 0.87%. European markets slipped with major indices losing around half a percent. In overnight trades in the US, the Dow rose by 1% with strong performances in networking, housing and banking stocks. The major averages all ended the day in positive territory but sentiment was slightly cautious ahead of critical US economic data releases.
Powered by Commodity Insights