COMEX copper hits record high, up around 11% this month

COMEX copper surged to a record high on Wednesday with sentiments driven by severe supply shortages and intense demand for AI-driven data center construction and energy infrastructure. The red metal has zoomed 11% this month and currently trades up 1.31% at $6.61 per pound. MCX Copper trades up 0.90% at Rs 1402.65 per kg. Meanwhile, in Asia, China stocks hit an 11-year peak on Wednesday. The Shanghai Composite Index closed 0.7% higher. In Hong Kong, the Hang Seng Index added 0.2%. Japanese stocks edged up amid volatile trades today. The Nikkei 225 Index added 0.84%, hitting another record high. European stocks are witnessing choppy moves but the undertone is mostly supported. The major stock market averages on Wall Street climbed well off their worst levels of the day, with the DOW adding 0.11%.

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