(06 May 2025, 18:01)

COMEX Copper hovers just above $4.70 per pound

COMEX Copper futures edged up modestly today but mostly remained in a range as equities turned in a mixed performance across the globe. The red metal currently trades at $4.73 per pound, up 0.68% on the day after falling half a percent in last session. In a key data for the metal today, Caixin China services purchasing managers’ index fell to 50.7, the lowest level in seven months, according to a statement from Caixin and S&P Global on Tuesday. The Caixin China General Composite PMI fell to 51.1 in April 2025 March's 4-month peak of 51.8. Still, but held in expansion zone for 18th consecutive month. Meanwhile, in Asia, China's Shanghai Composite index soared 1.13% as trade talks dominated sentiments. Hong Kong's Hang Seng index added 0.70%. European stocks eased with German DAX tanking 1.50%. Othe indices shed around half a percent. The US stocks saw volatile moves in last session. The Nasdaq fell 0.7%, the S&P 500 shed 0.6% and the Dow lost 0.2%.

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COMEX Copper hovers just above $4.70 per pound