iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Copper Attempts Recovery Near $3.5 Mark

22 Sep 2022 , 01:55 PM

Copper recovered on Thursday as preliminary data from the International Copper Study Group (ICSG) for June world copper supply and demand in its September 2022 Copper Bulletin indicated that world copper mine production increased by about 3% in the first seven months of 2022, with concentrate production increasing by around 2 % and solvent extraction-electrowinning (SX-EW) by about 7%. The recovery came on the back of a sharp fall in the previous session after Fed went an aggressive rate hiking spree and sent further hawkish signals regarding future rate hikes. The red metal lost nearly 1.5% this week on concerns that persistent rate hikes by central banks would push the global economy into recession and impact demand for the industrial metal. Rising copper stocks already show a declining trend in demand for the commodity. COMEX copper is currently quoting higher by nearly 0.55% at $3.48 per pound. Powered by Commodity Insights

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.