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Base Metals Preview: Copper Paring Gains Near Six Week High

12 Aug 2022 , 09:18 AM

Copper is seen paring some gains near six week highs tracking rebound in dollar and amid an uptick in copper inventories to a two week high. COMEX copper is marginally lower at 0.06% at 3.69 per pound. Meanwhile, US Labor Department said its producer price index for final demand fell by 0.5 percent in July after surging by a revised 1.0 percent in June. Copper price rose on Thursday to the highest in nearly six weeks, helped by easing demand worries after US inflation data came in softer than expected.Powered by Commodity Insights

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