Copper Mildly Supported, Chinese Copper Imports Up 5.8% On Year In November

8 Dec 2022 , 05:32 PM

COMEX Copper futures saw choppy moves amid mixed equities today. Chinas Shanghai Composite index eased marginally while Hong Kongs Hang Seng index jumped 3.30%, reversing similar losses in last session. Japans Nikkei 225 index fell 0.40%. European markets edged up marginally. The US stocks saw choppy action yesterday after latest losing spree. The COMEX Copper futures stayed mildly positive and are not far from their three week highs. The red metal currently quotes at $3.87 per pound, up 0.40% on the day. The commodity was also supported on rising Chinese imports. Chinas copper imports climbed in November. Imports of unwrought copper and copper products by China were 539,901.70 tonnes in November, up 5.8% on year, data from the General Administration of Customs showed yesterday.Powered by Commodity Insights