Copper up from four-month low, trades up 1%

COMEX Copper turned higher in volatile trades as US President Donald Trump said he would order the military to postpone any strikes against Iranian power plants and energy infrastructure. This announcement pushed up the DOW futures and also assisted the European equities to trim their losses. COMEX Copper futures had tested four-month lows near $5.20 per pound but the counter moved up impressively and is currently trading up 1.14% at $5.43 per pound. Major European indices are up around 2%. MCX Copper spiked sharply too and is currently up 1% at Rs 1120 per kg. Evening trades have seen volatile moves after the break above Rs 1100 per kg mark.

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