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Commodity Post Session News

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(12 Jun 2024, 17:29)

Copper Off Six And Half Week Low


COMEX copper is recovering from a six and half week low on Wednesday amid mild pull back in dollar overseas ahead of crucial US data. Investors also digested China's key data for May where consumer inflation rose less than expected while producer prices fell the least in 15 months. Rising copper inventories and signs of easing demand are however seen weighing on the red metal. Metals prices, excluding those of precious metals, are projected to remain little changed, on average, in 2024-25, staying well above pre-pandemic levels, World Bank noted in its latest update. The counter is quoting at $4.51 per pound, up marginally on the day. Meanwhile, European stocks advanced while Asian stocks ended mixed on Wednesday as jitters from US inflation data and the upcoming Federal Reserve decisi...

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