Hot Commodities: Copper In Demand As China Lifts Some Covid Curbs

11 Nov 2022 , 02:36 PM

COMEX Copper futures jumped impressively today as firm cues from equities boosted the metal. The commodity also benefited from Chinas withdrawal of some COVID-related curbs. Chinese authorities on Friday shortened quarantine times for residents and inbound travelers, and scrapped a penalty on airlines that bring in infected passengers. The exchange inventories of Copper are already running near all time low in China and the metal scaled up to a fresh four month high of $3.90 per pound today after the update on Chinese Covid norms. The MCX Copper futures broke above Rs 700 per kg in intraday moves amid extremely upbeat global cues and currently quotes at Rs 699.05 per kg, up 1.85% on the day. Powered by Commodity Insights