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Copper extends winning spree, hits one-month high
29-Aug-25   17:21 Hrs IST

COMEX Copper futures stayed well supported, adding to robust gains in last session amid firm US equities. The metal soared 2.70% yesterday as US GDP expanded at 3.3% in April-June after shrinking 0.5% in the first three months of 2025. The department had initially estimated second-quarter growth at 3%. Copper also eyed long term clean energy demand and currently trades up 0.75% at $4.57 per pound. These are the highest levels in last one-month. The metal has gained around 5% in August after a 14% drop in previous month. Meanwhile, equities were mixed today. In Asia, China's Shanghai Composite index added 0.37%. Hong Kong's Hang Seng rose 0.32%. Japanese Nikkei average eased 0.26% on profit selling. European stocks eased as major indices shed around half a percent. The US stocks stayed supported yesterday with the S&P 500 reaching another new record closing high.

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