(12 Feb 2025, 17:44)

Copper consolidates around $4.60 per pound

COMEX Copper saw choppy moves today as some consolidation took place in the counter after a more than 2% tumble in last session. COMEX Copper futures are currently quoting at $4.60 per pound, up 0.10% on the day with the broad focus shifting to the release of US consumer price inflation later on today. Equities were mostly supported, capping losses in Copper. Asian markets rose today. China’s Shanghai Composite index gained 0.85%. Japanese Nikkei average added 0.42%. Hong Kong's Hang Seng index spiked 2.60% after yesterday’s correction. European stocks edged with German DAX rising by a modest 0.31%. The US stocks saw choppy moves in last session after firm action on Monday. The Dow added 0.30%. The US Federal Reserve Chair Jerome Powell delivered his semiannual monetary policy testimony before the Senate Banking Committee on Tuesday, stating that the central bank does "not need to be in a hurry" to adjust its policy stance.

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Copper consolidates around $4.60 per pound