COMEX Copper futures moved up near two and half month high of $3.74 per pound yesterday before sliding amid weak US equities. Stocks moved sharply lower during trading on Wednesday, giving back ground after closing high for three straight sessions. The major averages all showed significant moves to the downside, with the Dow pulling back off its best closing level in well over two months. Copper has been supported recently on low LME inventories and supply concerns from Peru. The red metal currently trades at $3.68 per pound, down 0.36% on the day.Powered by Commodity Insights
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