Copper hits record high, up around 5% this week

COMEX Copper futures edged up further amid falling global inventories and sustained weakness in the US dollar. The red metal currently trades up 0.74% at $6.78 per pound, hitting fresh record highs. The metal has zoomed around 4.80% this week. MCX Copper futures are up 1.10% at Rs 1388.85 per kg. Meanwhile, Asian stocks were mixed today. China's Shanghai Composite index rose 0.57%. Hong Kong?s Hang Seng index lost 1.49%. Japan?s Nikkei average eased 0.93% after hefty gains in last session. European stocks saw modest gains today. The US stocks ended mixed in last session. The S&P 500 fell 0.2% and Nasdaq fell 0.8%. However, the Dow Jones rose 0.5% to 54,349.12, reaching another record. LME Copper also soared above $14000 per tonne to hit fresh record high while the inventories fell to five-month low.

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