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Commodity News Details
Copper consolidates around five week top
12-Dec-2024 17:36
COMEX Copper futures stabilized around five week highs, consolidating near $4.30 per pound mark as equities stayed mostly positive today. In Asia, China's Shanghai Composite index jumped 0.85%, adding to recent gains while Hong Kong's Hang Seng index also spiked 1.20%. Japanese Nikkei index added 1.21% too. European markets stayed in a choppy range as investors waited for the European Central Bank monetary policy outcome. US stocks corrected a bit in last session but a rally in tech stocks kept overall sentiments steady. Copper is hoping for a pickup in demand from China and recent slide in LME Copper inventories is also keeping the metal supported. MCX Copper futures moved in a tiny range today and currently trades up 0.07% at Rs 830.15 per kg.

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