Copper Jumps As China Lifts Some Covid Curbs

20 Sep 2022 , 11:01 AM

COMEX Copper futures jumped yesterday as supportive US equities and hopes of a recovery in Chinese demand pushed up the red metal above $3.50 per pound. The commodity has been rising after testing a one week low despite firm US dollar as market focused on cues from China. Media reports stated that the southwestern Chinese city of Chengdu has announced plans to lift Covid related lockdown after more than two weeks of curbs. Asian equities are up too, keeping the metal elevated. COMEX Copper futures are up 0.74% at $3.63 per pound. MCX Copper futures are trading at Rs 652.50 per kg, up 0.62% on the day on firm global cues. Powered by Commodity Insights