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Weekly Copper Review: Sentiments Mixed
(04-Dec-2021, 13:24 Hours IST)
COMEX Copper futures fell to a two week low of $4.20 per pound amid sustained selling pressure in world equities. However, very tight inventories on LME provided some buying support to the metal. Traders also eyed conditions in global manufacturing sector. The J.P.Morgan Global Manufacturing PMI- a composite index produced by J.P.Morgan and IHS Markit in association with ISM and IFPSM - edged down to 54.2 in November, little-changed from readings achieved in the prior three months. The headline PMI has now signalled improvements in business conditions for 17 consecutive months. This pulled up the metal towards $4.30 per pound.

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