Hot Commodities: COMEX Copper Spikes More Than 2% To Hit Three Week High

6 Oct 2022 , 12:23 PM

COMEX Copper futures soared today, extending their recent gains on firm movement in global equities and a drop in copper output from leading producer Chile. Subdued undertone in the US dollar also benefitted the red metal. Chiles total copper production fell 10.2% in August to reach 415,500 tonnes, government body Cochilco has noted. Copper has been rising despite a generous spurt in LME Copper inventories recently. The red metal currently trades up 2.33% at $3.58 per pound- hitting highest level in around three weeks. MCX Copper futures are trading at Rs 672.85 per kg, up 1.60% on the day.Powered by Commodity Insights