Copper Dips To One Week Low, China Covid Cases Escalate

18 Nov 2022 , 04:37 PM

Copper eased today amid choppy equities. Asian stock markets eased today. Chinese Shanghai Composite index fell 0.58% while the Hong Kongs Hang Seng index lost 0.29%. European shares stayed supported ahead of weekend. The major US averages moved back to the upside going into the close but finished the session in the red. The Dow edged down very marginally. COMEX Copper futures fell 0.60% to $3.66 per pound. These are the lowest levels in one week for the metal. The Copper traders also remain worried about the sustained uptick in Chinese Covid cases. China has been reporting 20000+ new COVID-19 infections this week, making traders worried about effective easing of the pandemic linked rules in near term.Powered by Commodity Insights