Gains In European Stocks Cap Losses In Copper

6 Jul 2022 , 04:55 PM

COMEX Copper futures are trying to stabilize after testing around 19 month lows as a sharp recovery in European equities is capping the downside for the metal. Overall mood is lax for the red metal though as a deep tumble of more than 5% in last session continues to weigh on the buying momentum. The COMEX Copper futures currently trade at $3.38 per pound, down 0.81% on the day. Investors will closely monitor the release of the Federal Reserves minutes of meeting in June, to be out late on Wednesday. Asian stocks were mostly lower with Shanghai and Hong Kong indices shedding more than 1.50% on fresh Covid-19 worries in China. European shares jumped after a massive slide in last session. The DOW moved up in intraday moves in volatile trades. The index slumped more than 2% in early moves on recession worries. Powered by Commodity Insights