Base Metals Preview: COMEX Copper Dips From Two Week High

14 Sep 2022 , 08:37 AM

Copper fell from a two week high on a rampant correction in US equities following an uptick in US inflation data. The major averages all showed substantial moves to the downside, snapping a four-session winning streak. The Dow plunged 1,276.37 points or 3.9 percent to 31,104.97, the Nasdaq dove 632.84 points or 5.2 percent to 11,633.57 and the S&P 500 plummeted 177.72 points or 4.3 percent to 3,932.69. The COMEX Copper futures dipped near $3.50 per pound following this. MCX Copper futures closed at Rs 652.40 per kg, down around 1.50% on the day.Powered by Commodity Insights