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COMEX Copper Sees Impressive Bounce, Bullish Equities Build Up Good Momentum

COMEX Copper Sees Impressive Bounce, Bullish Equities Build Up Good Momentum

June 27, 2022 4:41 IST | capital market
COMEX Copper futures moved up impressively today as bullish leads from equities boosted the sentiments for the red metal. Asian stocks recorded impressive gains on Monday. The Chinese Covid-19 worries receded as an easing in covid-19 restrictions in China raised prospects the economy will recover from the pandemic hit. European shares saw firm moves with major indices surging impressively on first session of the week. The US stock indices saw good gains in the last week. The major US indices ended a three-week losing streak. COMEX Copper futures are quoting at $3.76 per pound, up 0.52% on the day as a deep slide in last session to February 2021 lows helped build up good buying momentum. The metal could advance further as falling LME inventories might keep overall price trajectory elevated.Powered by Commodity Insights

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