COMEX Copper futures rose today after a meltdown in last session as US President Donald Trump yet again issued warnings about elevated tariffs on China. However, the counter edged up today in tune with rest of the commodities and currently trades at $5.03 per pound, up around 3% on the day. It fell around 4.5% in last session, testing ten-day low. China's Copper demand remains firm. According to data released by the General Administration of Customs on October 13, China's imports of copper ores and concentrates in September were 2.587 million mt, with cumulative imports from January to September reaching 22.634 million mt, up 7.7% YoY. Meanwhile, in Asia, China's Shanghai Composite index eased 0.19% while Hong Kong's Hang Seng index 1.52%, adding to heavy losses on Friday. European stocks rose marginally. The US stocks slumped on tariff worries. The Nasdaq and the S&P 500 pulled back further off Wednesday's record closing highs, plunging to their lowest closing levels in a month.
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