ASIA-PAC COMMODITIES UPDATE: Little action seen across crude and gold, but copper remains on the backfoot

Analysis details (02:58)

WTI and Brent December contracts trade relatively flat intraday after both contracts settled lower yesterday, with some downticks seen across the complex ahead of the Chinese cash open in a move that was seemingly sentiment-driven. News flow for the complex has been light overnight thus far with all eyes on the market mood and China’s COVID situation – with WTI around the USD 84.50/bbl mark and its Brent counterpart just above USD 93/bbl – both within tight ranges. Elsewhere, spot gold oscillates around USD 1,650/oz with the yellow metal’s 10 DMA around 1,649.30/oz. Meanwhile, CME copper is on the back foot amid the cautious mood across the markets and following China’s selloff yesterday.

25 Oct 2022 - 02:58- MetalsResearch Sheet- Source: Newsquawk