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Commodity

Commodity Analysis

End Session Commentary

 
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Copper Slides Amid Corrective Moves
(23-Apr-2024, 18:13 Hours IST)  
COMEX Copper futures pulled back near $4.40 per pound as a drop from 20 month highs extended. The metal saw some corrective moves after latest gains. Latest data from China also points towards a mixed demand scenario for the metal. COMEX Copper futures are currently quoting at $4.40 per pound, down 1.53% on the day. China's industrial capacity utilization rate came in at 73.6 percent in the first quarter of 2024, down 0.7 percentage points from the same period last year, latest data released by the National Bureau of Statistics showed. China?s Shanghai Composite index fell 0.74%. Hong Kong?s Hang Seng index soared 1.92%. Japan?s Nikkei 225 index gained 0.30%. European stocks advanced today with decent gains for major indices. Wall Street stocks ended higher on Monday following a market sell-off in previous sessions.

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