COMEX Copper Hits One Week High

COMEX Copper Hits One Week High

Nov 23, 2021 06:11 IST capital market

COMEX Copper futures largely held up well despite stress in equities as recent slide in LME Copper inventories boosted the red metal. European stocks moved lower as traders eyed the unravelling Covid-19 situation. However, this did not deter the metal much and COMEX Copper moved up above $4.40 per pound. The commodity currently trades up 0.30% at $4.43 per pound-lingering around one week high. The MCX Copper futures are trading at Rs 735.50 per kg, up marginally on the day. US economic cues stay bright. US existing home sales climbed 0.8% to an annual rate of 6.34 million in October after spiking by 7% to a rate of 6.29 million in September, according to a report released by the National Association of Realtors on Monday.

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