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Commodity News

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(05 Jun 2025, 08:56)

Base Metals Preview: COMEX copper stays supported near 6-week high


Copper futures stay supported near a six-week high, above $4.88 per pound mark despite a lackluster performance on Wall Street came following the release of some weaker than expected U.S. economic data. Payroll processor ADP released a report showing much weaker than expected private sector job growth in the month of May. ADP said private sector employment rose by 37,000 jobs in May after climbing by a downwardly revised 60,000 jobs in April. While the Dow dipped 91.90 points or 0.2 percent to 42,427.74, the S&P 500 inched up 0.44 points or less than a tenth of a percent to 5,970.81 and the Nasdaq rose 61.53 points or 0.3 percent to 19,460.49. COMEX copper futures are currently seen trading at $4.89 per pound, up 0.29% on the day.

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