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Commodity News Details
Copper tests two week low, sees narrow movement
18-Dec-2024 17:15
COMEX Copper futures tested two week low today, tracking tepid action in global equities as broad worries posed by a firm US dollar weighed on the sentiments. The counter currently quotes at $4.16 per pound, up marginally on the day but remains in a narrow range as it tries to recover from a 4.60% decline seen in last month. In Asia, China's Shanghai Composite index rose 0.62% while Hong Kong's Hang Seng index soared 0.83%. Japanese Nikkei index fell 0.72%. European markets edged up marginally today amid lack of major data. In the overnight US markets, the tech-heavy Nasdaq pulled back off yesterday's record closing high, while the Dow closed lower for the ninth straight session for the first time since 1978. The major averages climbed off their worst levels going into the close but ended in the red.

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