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Commodity News Details
Copper eases from 3-week high
04-Dec-2024 17:23

Copper futures eased to around $4.18 per pound on Wednesday but remained close to three-week highs after rising nearly 2% in the previous session. Recent data showed that Chinese manufacturing activity expanded for the second consecutive month in November, strengthening the demand outlook for copper. However, a firm greenback overseas is adding pressure on the red metal, making dollar-priced metals costlier for holders of other currencies. Markets are also concerned about President-elect Donald Trump's proposed import tariffs, which could harm global economic growth. His pledges might also disrupt the global metal demand-supply balance and potentially lead to price fluctuations. Currently, the counter is quoting at $4.158 per pound, down 0.24% on the day.

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