Copper Moves Up More Than 1%

8 Sep 2022 , 03:50 PM

Copper moved up on good bargain buying after testing seven week lows earlier this week. The metal also eyed tightening global market and sustained drop in LME Copper inventories in recent times. The red metal currently trades at $3.47 per pound, up 1% on the day, despite a mostly choppy action from global equities. The benchmark indices in China and Hong Kong stayed slippery. European shares saw very thin moves. The US stocks jumped on Wednesday. The major averages all showed strong moves to the upside, with the tech-heavy Nasdaq snapping a seven-session losing streak.Powered by Commodity Insights