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End Session Commentary - Detailed News

Copper Breaks Above $4.50 Mark
25-Apr-24   17:36 Hrs IST
COMEX Copper futures stayed well supported today, going up above $4.50 per pound to near 20 month high amid largely steady equities. Chinese economic cues continued to drive the momentum for the metal after it hit 20month highs recently. Chinese economy is rebounding and the long-term trajectory of positive growth is unlikely to change, Foreign Ministry spokesperson Wang Wenbin stated on Wednesday, according to media reports. With the continuous high-quality development and high-level opening-up, China's economy will accelerate its transformation and upgrade, making greater contributions to the global economy. China?s Shanghai Composite index added 0.48%. Hong Kong?s Hang Seng index rose 0.27%. Japan?s Nikkei 225 index lost 2.16%. European stocks fell and major indices lost more than 50%. Meanwhile, the US stocks ended on a mixed note on Wednesday as treasury yields rose.

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