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Commodity

Commodity Analysis

End Session Commentary

 
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Copper Flares Up On Supportive Equities
(24-Apr-2024, 18:06 Hours IST)  
COMEX Copper futures are recovering following a pullback near $4.40 per pound. Prices tanked around 1% on the day. The rebound partially came on the back of sliding stocks in LME registered warehouses, which at 121,200 tonnes have dropped more than 35% since October last year. Currently, COMEX copper futures are up 0.82% on the day to trade at $4.47 per pound. Asian stock markets edged up on Wednesday on firm overnight cues. China?s Shanghai Composite index added 0.76%. Hong Kong?s Hang Seng index jumped 2.20%. Japan?s Nikkei 225 index spiked 2.40%. European stocks advanced today with decent gains for major indices. US stocks edged up steadily yesterday. The Dow added 0.69% while the S&P 500 zoomed 1.2%. The Nasdaq rallied 1.59%.

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