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Commodity News Details
Copper gains 10% so far in Jan-25
17-Jan-2025 17:39
Copper is holding onto two and half month highs above $4.40 per pound amid mostly supportive cues from equities and positive economic outlook. World Bank stated in a latest update that the global economy is projected to expand by 2.7% in both 2025 and 2026, the same pace as in 2024, as inflation and interest rates decline gradually. Recent drop in LME Copper inventories also kept Copper supported and the metal currently trades at $4.43 per pound, down marginally on the day but up 3.10% for the week and 10% for the month so far. In equities, China's Shanghai Composite index added 0.18%. Hong Kong's Hang Seng index rose 0.31% while Japanese Nikkei index fell by the same magnitude. European stocks rose with major indices gaining around 1% on the day. The US stocks turned in a lax performance on Thursday. DOW slipped by 0.2%.

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