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Commodity News Details
Copper dips to two week low
17-Dec-2024 17:41
COMEX Copper futures fell near two week low as a slide under $4.20 per pound extended amid mostly weak equities today. The counter currently trades at $4.14 per pound, down 1.16% on the day as the focus shifted onto tomorrow's US Fed monetary policy meeting. Meanwhile, in Asia today, China's Shanghai Composite index dipped 0.73% while Hong Kong's Hang Seng index lost 0.48%. Japanese Nikkei index closed down 0.24%. European markets saw mixed movement though UK stocks witnessed a steep correction. Copper saw muted movement yesterday as US stocks edged higher. The tech-heavy Nasdaq led the charge, surging to a new record closing high. The metal has trended lower in last few days, not being able to hold onto its five week high.

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