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Commodity

Commodity Analysis

End Session Commentary

 
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Copper Drives Near $4.30 Mark
(08-Apr-2024, 18:13 Hours IST)  
COMEX Copper futures held near multi month highs as recent break above $4.20 per pound stayed in place and pushed it towards $4.30 mark. The metal currently trades at $4.26 per pound, up 0.63% on the day amid a volatile movement during the earlier part of the session. Prices rose though as mostly supportive cues from equities boosted the mood. In Asia, China?s Shanghai Composite index dipped lost 0.72%. Hong Kong?s Hang Seng index closed flat. Japan?s Nikkei 225 jumped 0.91%. European markets gained with indices in Germany and France adding 0.60% each. UK?s FTSE100 index is up 0.15%. US stocks regained ground after a solid US jobs report. Dow zoomed 0.8% on the day, cutting recent losses. This has mostly kept risk sentiment supported today and is keeping Copper near 15 month high.

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