Copper Sees Good Gains

Copper Sees Good Gains

Nov 24, 2021 05:11 IST capital market

COMEX Copper futures moved up near a one week high yet again today on stable equities. Chinese benchmark Shanghai Composite index ended flat. Hong Kongs Hang Seng edged up 0.14%. European stocks edged up on bargain buying after recent spate of losses. The red metal currently trades up 0.75% at $4.45 per pound. MCX Copper is trading at Rs 746.15 per kg, up 0.72% on the day for the December futures. The economic calendar was mostly light today though the manufacturing sector in Japan saw improved activity in November. The latest survey from Jibun Bank revealed on Wednesday with a manufacturing PMI score of 54.2. This was up from 53.2 in October and it moved further above the boom-or-bust line of 50 that separates expansion from contraction. Both output and new order growth quickened in November.

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