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(05 Jun 2024, 17:39)

Copper near five week low

COMEX Copper futures consolidated around five week low after a sharp slide in last session as a rise in LME Copper inventories and cautiousness linked to global equities capped gains. The counter currently trades at $4.53 per pound, down marginally on the day. Meanwhile, in equities today, China’s Shanghai Composite index slipped 0.83% while Japan’s Nikkei 225 index tanked 0.89%. Hong Kong’s Hang Seng index eased marginally. European stocks edged up. German DAX rose 0.64% and French CAC gained 0.58%. COMEX Copper had lost around 3% yesterday.
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