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Commodity News Details
Weekly Copper Review: COMEX futures eye rising global refined output
25-Jan-2025 12:49
COMEX Copper futures recovered from a two week low under $4.30 per pound but stayed bearish on the whole. Prices saw good gains this month but flipped back thereafter amid worries over strong pace of refined output. The International Copper Study Group (ICSG) noted that world refined copper production increased by about 3.7% in the first eleven months of 2024 on strong performances in China and the DRC due to expanded capacity while world apparent refined copper usage grew by about 2.6% the same time period. COMEX Copper dipped from a two and half month high last week and extended losses despite firm equities. MCX Copper futures edged lower near Rs 830 per kg before witnessing a recovery and ended just above Rs 840 per kg mark.

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