Base Metals Preview: Copper Rallies More Than 1%

9 Sep 2022 , 09:26 AM

Copper futures rallied to more than a week high tracking firmly positive US stocks. The major averages extended the recovery rally. The Dow climbed 193.24 points or 0.6 percent to 31,774.52, the Nasdaq rose 70.23 points or 0.6 percent to 11,862.13 and the S&P 500 advanced 26.31 points or 0.7 percent to 4,006.18. Besides, a weaker dollar, a continued fall in copper stockpiles and supply concerns stemming from a strike in Chiles Escondida mine also supported the red metal. COMEX copper is up more than 1% at $ 3.59 per pound. Powered by Commodity Insights