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Commodity Post Session News

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(14 Mar 2024, 18:26)

Copper Lingers Just Under 11 Month High


COMEX Copper futures soared more than 3% in last session amid reports of China curtailing the output from its smelters. The counter broke above $4 per pound mark and currently quotes at 4.04 per pound, down 0.33% on the day, just off its 11 month high. The counter eyed mixed equities today as overall focus shifted to the barrage of US economic releases later on in the day. In Asia, China’s Shanghai Composite slipped 0.18% after rising in last session. Hong Kong’s Hang Seng index fell 0.71%. Japan’s Nikkei 225 index added 0.29%. German DAX is up 0.20% while French CAC added 0.70%. UK’s FTSE100 index traded flat. The US stocks stayed broadly supported despite some selling in tech counters. Dow gained for third session.

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