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Commodity

Commodity Analysis

End Session Commentary

 
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Copper Sizzles, Futures Break Above $4.30 Per Pound
(12-Apr-2024, 18:01 Hours IST)  
COMEX Copper saw sweltering gains today as a rally above $4.30 per pound mark continued amid good upmove in European equities. Copper is soaring despite strength in US dollar index and currently trades at $4.34 per pound, up 2% on the day. In Asia, China?s Shanghai Composite index fell 0.50% amid sustained corrective action. Hong Kong?s Hang Seng index lost 2.18%. Japan?s Nikkei 225 added 0.21%. However, the movement in European stocks was highly upbeat. German DAX is up 0.74% and French CAC has rallied 1%. UK?s FTSE100 index is also up 1.27% amid a flurry of economic data. US stocks gained in volatile trades yesterday with the tech-heavy Nasdaq surging to a new record closing high.

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