MCX copper slips despite upbeat global cues

Copper futures advanced over 1% to around $4.91 per pound on Tuesday, extending Monday?s gains as a ceasefire between Israel and Iran brightened market sentiment and reduced fears of wider geopolitical turmoil. President Trump?s confirmation of the truce reassured investors after Iran?s missile strike on a US base in Qatar caused no harm and left the vital Strait of Hormuz unaffected. A softer dollar, with the index dipping below 98, further bolstered the appeal of base metals globally. However, MCX copper July futures traded marginally lower at ₹886 per kg, bucking the upbeat global tone as traders booked profits domestically.

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