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Commodity News Details
Copper melts amid weak equities
28-Feb-2025 17:29
COMEX copper futures slipped today as weak equities hurt the sentiments. The red metal currently quotes at $4.55 per pound, down 1.26% on the day. The red metal had rallied close to 4% during the week after the US President Donald Trump signed an Executive Order launching an investigation into how copper imports threaten America's national security and economic stability. Asian equities stayed slippery on trade worries as Donald Trump said he would impose an additional 10 percent tariff on Chinese imports China's Shanghai Composite index tanked 2% while Hong Kong's Hang Seng index lost 3.30%. Japanese Nikkei average slumped 2.88% to make it a very bleak session for Asian stocks. European stocks continued to ease ahead of weekend. The US stocks fell yesterday with the tech-heavy Nasdaq recording a particularly steep loss, plunging 2.8% to a nearly four-month closing low.

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