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Commodity News Details
Base Metals Preview: Copper up 1% in early Asia
05-Mar-2025 08:58

COMEX copper advanced over 1% in early Asian trades on Wednesday tracking weakness in greenback and positive cues from China. Business activity in China surged to a three-month high in February, with both the manufacturing and service sectors showing solid growth. Caixin China General Services PMI unexpectedly advanced to 51.4 in February 2025, up from January's four-month low of 51.0, surpassing market forecasts of 50.8. Meanwhile, the Chinese government set its 2025 growth target for the economy at around 5%, the same as last year's target, according to a government document prepared for the annual meeting of the National People's Congress on Wednesday. Currently, the red meal is quoting at $4.60 per pound, up 1.08% on the day.

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