Copper Rises On Chinese Fixed Asset Investment Data

16 May 2022 , 02:24 PM

COMEX Copper gained slightly today amid steady cues from equities and mixed Chinese economic data. The industrial output in China fell 2.9% on year in April, the National Bureau of Statistics said on Monday after 5% fall in March. However, the countrys fixed asset investment was up 6.8% on year in April, down from 9.3% a month earlier. This capped losses for Copper after the recent slide to three month low. A mild correction in the US dollar index from two decade high also supported the red metal and COMEX Copper currently trades up 0.28% at $4.19 per pound. MCX Copper trades at Rs 758.85 per kg, up 0.78% on the day after rising more than 1% in last session. Powered by Commodity Insights