COMEX Copper futures recorded awesome gains today as firm global equities boosted the red metal. A sustained drop in LME Copper inventories which fell to near nine month low yesterday is also keeping the sentiments firm after a modest correction in the commodity over last few sessions. The counter zoomed above $4.70 per pound and is currently trading at $4.73 per pound, up 3.20% on the day and testing fresh 2 year high. Equity indices rose in Asia and stayed well supported in Europe too. Copper is up around 3.80% this month after a rocking upmove of 14% in April 2024. The year to date gain for the commodity stands at a whopping 21%.
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