Copper Prices

Three-month copper on the London Metal Exchange was trading around $7,363 a tonne on Wednesday having declined more than 30% on growing recession fears since scaling a record peak of $10,845 in March

Copper has given up 30% since touching a record peak in March but has largely held in a range between $7,200 and $8,000 since the end of August

The BSE Metal index was the top performer, up 1.4 per cent; Major metal and mining related shares gained 1-2 per cent each in intra-day trades on Friday.

Benchmark aluminium on the London Metal Exchange was up 1.6% to $2,271 a tonne, while copper was 2.5% higher at $7,811 by 1600 GMT

Benchmark copper on the London Metal Exchange (LME) was down 3.5% at $7,875 a tonne by 1603 GMT, having touched its lowest since Aug. 8 at $7,846.

Three month copper on the London Metal Exchange gained 1.3% to $8,089 a tonne by 1630 GMT, the highest since July 1, after earlier easing to $7,889

A weaker U.S. dollar in recent days has also helped metals, which are priced in the greenback, by making them cheaper for buyers with other currencies.

Rising US interest rates have pushed the dollar to its strongest in two decades, making dollar-priced metals costlier for non-US buyers and potentially dampening demand

Benchmark copper on the London Metal Exchange (LME) was down 3% at $7,573 a tonne at 1601 GMT.

Benchmark copper on the London Metal Exchange (LME) was down 0.8% at $7,982 a tonne at 1602 GMT

Fed is expected to deliver another 75-basis-point interest rate hike in July, followed by a half-percentage-point rise in September

Three-month aluminium on the London Metal Exchange (LME) slid 2.8% to $2,685 a tonne by 1400 GMT after touching the lowest since December last year

The price of copper wire bars averaged Rs 738 per kg (ex-factory) in FY22, a 42 per cent rise year-on-year, with rates breaching Rs 800 per kg in March before retreating to Rs 790 per kg

Power shortages are forcing output cuts from China to Europe

Asian shares advanced warmed by the embers of a strong day on Wall Street, which supported risk-friendly currencies and hurt the safe-haven yen.

There are no reversal patterns on chart and support comes around 268 for natural gas

This is in connection to rising prices of raw materials such as steel, iron ore, aluminum, copper, plastics and paper.

Copper sinks as inflation fears eclipse South American political risk

Copper remains a favorite long wager in the commodities complex

With the past three days' rally, the market price of HCL appreciated by 58 per cent over its QIP issue price of Rs 119.60 per share