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Commodity News Details
Copper corrects sharply after recent spike
17-Feb-2025 18:06
COMEX Copper futures pulled back today after recent spike as a sharp spurt in LME Copper inventories on Friday weighed on the sentiments. The COMEX Copper futures currently trade down 1.23% at $4.60 per pound. Copper is still up around 8% in current month but is well off its eight month high of $4.83 per pound hit on Friday. Meanwhile, in equities, China's Shanghai Composite index added 0.27%, holding onto recent gains. Japanese Nikkei average ended up 0.06%. Hong Kong's Hang Seng index closed flat. European stocks stayed largely supported with German DAX rising 0.66% on the day. The US stocks witnessed mixed activity on Friday after good gains in previous session. MCX Copper futures are trading at Rs 863.15 per kg, down 0.20% on the day after testing a high of around Rs 871 per kg in morning trades.

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