Base Metals Preview: COMEX Copper Stays Under Stress

4 Apr 2022 , 12:29 AM

COMEX Copper saw muted trades and closed at $4.70 per pound, down 0.92% on the day amid choppy cues from the US equities. The US economic cues were mostly supportive. A closely watched report released by the Labor Department on Friday showed US employment increased by less than expected in the month of March. The report showed non-farm payroll employment jumped by 431,000 jobs in March after surging by an upwardly revised 750,000 jobs in February. Manufacturing activity in the US rose at a modestly slower rate in the month of March, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI dipped to 57.1 in March from 58.6 in February.

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