Copper Off Three Week Low, Rallies On Supportive Equities

29 Nov 2022 , 05:16 PM

Copper soared today, rising in tune with the equities. The red metal had tested a three week low in last session amid weak US equities but marked a good bounce today. The counter currently trades at $3.66 per pound, up 1.37% on the day. Asian stocks bounced back from recent losses, with Chinese bourses leading gains after Beijing rolled out more stimulus measures. Chinas Shanghai Composite index added 2.2%. Hong Kong stocks also rallied, with the Hang Seng index jumping over 4%. European shares rose on supportive global cues. US stocks settled sharply lower on Monday as investors sold off amid mounting concerns over supply chain disruptions amid Covid-related protests in China. The DOW lost 1.50% on the day. Powered by Commodity Insights