Copper consolidates around one-week high

COMEX Copper futures are witnessing tight moves, holding around one-week high. The red metal has been supported on a sustained drop in LME Copper inventories and a recent slide in the US dollar is also playing a part in boosting sentiments. However, today?s price action was choppy for copper as Asian markets saw hefty losses. China's Shanghai Composite index fell around 1.30% while Hong Kong?s Hang Seng index slipped around 0.51%. Japan?s Nikkei average lost 2.10%. Asian equity markets fell on selling in technology stocks. South Korea's KOSPI tumbled around 5%. European stocks are choppy. German DAX is down around half a percent. A rebound for AI stocks lifted the US market on Monday. The S&P 500 rose 0.7% and pulled back within 1% of its all-time high. The strength for companies in the artificial-intelligence technology industry sent the Nasdaq composite 1.1% higher and the Dow Jones Industrial Average rose 0.3% to a record. Copper gained around 1% in last session.

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