Base Metals Preview: Copper Near Two-Week High

26 Jul 2022 , 09:13 AM

Copper is adding further gains in early Asia on Tuesday near a two-week high amid sustained decline in copper inventories. Copper stockpiles fell in the last session to 133175 tonnes, a 1-week low. COMEX copper is currently quoting higher by 1.53% at $3.41 per pound. Copper is receiving considerable support from a weakening dollar although recurring economic slowdown worries are keeping gains in the metal restricted. US Federal rate decision and COVID situation in top consumer China are closely being monitored for further cues. Powered by Commodity Insights