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Commodity News Details
Copper slumps to one week low
21-Jan-2025 17:28
Copper futures slumped today as worries over Chinese demand gripped the sentiments. US President Donald Trump has said the US. could levy tariffs on Mexico and Canada as soon as February and hinted at a more protectionist external trade regime which could impact global trade flows and weigh on Chinese economy in months ahead. Copper tumbled amid these cues and lost heavily today to approach one week low. The red metal currently trades at $4.29 per pound, down 1.65% on the day. Meanwhile, in equities, China's Shanghai Composite index ended flat. Hong Kong's Hang Seng index rose 0.91% while Japanese Nikkei index added 0.32%. European stocks saw modest gains today. Stock markets in the US are closed on Monday on account of Martin Luther King Jr. Day holiday.

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