(07 Feb 2025, 18:00)

COMEX Copper breaks above $4.50 per pound

COMEX Copper futures continue soar higher around a four month high tracking positive cues from overnight equities and dollar weakness. Falling LME Copper inventories are also keeping the red metal supported. The counter currently trades up 1.19 at $4.51 per pound. China’s Shanghai Composite index spiked 1%, adding to recent gains. Japanese Nikkei average fell 0.72% on strength in Yen. Hong Kong's Hang Seng index added 1.16%. European stocks saw modest losses after rising yesterday. Wall Street saw mixed trading with gains in Nasdaq and S&P 500 and losses in Dow. The Nasdaq and the S&P 500 reached new highs for the session going into the end the day, closing higher for the third straight session.

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COMEX Copper breaks above $4.50 per pound