Base Metals Preview: Copper Stays Flat In Early Asia

11 Oct 2022 , 09:07 AM

Copper futures were staying mostly flat in early Asia on Tuesday, following a sharp rise in the previous session as traders eyed the sustained drop in Chinese copper inventories. According to Shanghai Futures Exchange, total copper inventory in the week of September 30 dropped 3729 tonnes to 30,459 tonnes, lowest in around eight months. The latest correction in the prices also augured well for the metal as Copper raced upwards despite selling in equities. The red metal is currently quoting marginally lower at $3.43 per pound. Powered by Commodity Insights