Copper Rebounds, Solid Gains In European Markets

7 Jul 2022 , 04:56 PM

Copper prices spiked from a near 20-month low as dollar takes a breather after shooting to fresh two-decade highs during the week as equities jumped globally. Asian stocks saw modest gains. Good upmove was seen in Japanese stocks. European shares saw solid gains, adding around 1.5% on the day. The DOW edged up in last session, recovering on sustained bargain buying. COMEX Copper jumped 3% to $3.53 per pound. MCX Copper is quoting at Rs 660 per kg, up around 2.33% on the day after testing under Rs 650 per kg mark. In a critical data today, Germanys industrial production grew in May, data from Destatis revealed. Industrial production grew 0.2 percent in May from April, when output was up by revised 1.3 percent. Excluding energy and construction, industrial production was up 0.6 percent. Powered by Commodity Insights