Copper holds gains near $4.89 amid global market optimism

Copper futures ticked higher in Wednesday?s electronic trade, with COMEX prices at $4.89 per pound, up 0.43%, supported by strong gains across Asian equity markets. The Shanghai Composite, Hang Seng, and Nikkei all closed in the green, boosting risk appetite. MCX copper futures rose 0.47% to ₹885.5 per kg. Geopolitical risks linger, though a US-brokered ceasefire between Israel and Iran continues to hold. Meanwhile, investors digested Fed Chair Powell?s comments reaffirming a steady rate stance, with the market now awaiting his Senate testimony and key US housing data for further cues.

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