Copper off ten month top as global tariff landscape keeps sentiments volatile

COMEX Copper futures eased after hitting around ten month high as general unease in metal markets following the US tariff landscape capped upmove. Equities were largely mixed. In Asia, China's Shanghai Composite index eased 0.39% while Hong Kong's Hang Seng ended down 0.58%. Japanese Nikkei index closed flat. European stocks saw thin moves today after sharp gains in last session. German DAX is down 0.12% while UK?s FTSE is up 0.45%. US equities mostly rose yesterday. COMEX Copper futures are currently quoting at $4.83 per pound, down 0.30% on the day after a 1.75% spike in last session. Copper zoomed up after the US President Donald Trump imposed 25% tariffs on all steel and aluminum imported into the United States. However, the European Union retaliated with countermeasures on US goods exports. Canada also announced retaliatory measures. This is keeping the upside under check for the red metal today. The commodity has gone up impressively in recent period and is up around 6.30% so far this month.

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