Base Metals Preview: Copper well supported above $6 per pound, US equities near record high

COMEX Copper futures jumped to the highest level in five weeks as equities surged on optimism that the US and Iran will restart peace talks. Copper broke above $6 per pound, adding to recent gains and is currently up 0.32% at $6.10 per pound. Wall Street's main indexes neared its record ​closing high, reflecting excellent risk appetite. MCX Copper rallied yesterday as futures moved above Rs 1200 per pound mark. The counter closed at Rs 1270 per kg, up around 5% on the day.

Powered by Commodity Insights