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Commodity News Details
COMEX Copper holds around eight week low, weak INR keeps local futures in green
02-Jan-2025 17:19
COMEX Copper futures consolidated around eight week low as weak Asian equities weighed on the sentiments. The red metal currently trades at $4.01 per pound, down 0.30% on the day with focus shifting on the near term Chinese demand trends. Meanwhile, in Asia, China's Shanghai Composite index fell 2.66% as worries over U.S.-China relations weighed on sentiments. Hong Kong's Hang Seng index lost 2.18%. Japan's Nikkei 225 index also fell 1%. European stocks eased marginally today. The US stock market closed with modest losses on the final trading day of 2024, capping off a remarkable year of gains. However, On the MCX, Copper futures are trading at Rs 794 per kg, up marginally on the day the Indian Rupee slipped to all time low of 85.80 per US dollar.

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