Copper off two-month high, MCX futures hold around Rs 947 per kg

COMEX Copper futures eased today after a massive spike in last session. The metal soared yesterday as Freeport-McMoRan declared force majeure at its Grasberg mine in Indonesia. COMEX Copper zoomed 3.65% and hit a two-month high today. It currently trades at $4.78 per pound, down marginally on the day. Mining operations in the Grasberg minerals district have been temporarily suspended since September 8th, as previously reported, the company stated. It also noted that for the third quarter of 2025, FCX?s consolidated sales are expected to be approximately 4% lower for copper and approximately 6% lower for gold than July 2025 estimates. Meanwhile, Asian stocks were little changed in muted trades today. European stocks eased marginally. The US stocks stayed weak. Dow fell 0.4%, Nasdaq eased 0.3% and the S&P 500 dipped by same magnitude. MCX Copper futures are up 0.11% at Rs 946.75 per kg after a sharp spike in last session.

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