COMEX Copper futures stay well supported after breaking above $6 per pound

COMEX Copper futures soared yet again today as US President Donald Trump noted great progress in talks with Iran. Copper moved sharply higher after breaking above $6 per pound, adding more than 3% in last session. The red metal currently trades up 0.48% at $6.22 per pound. It is currently at a three-month high. Asian shares soared today. China's Shanghai Composite index rose 0.48% while Hong Kong?s Hang Seng index spiked 1.57%. Japan?s Nikkei average zoomed 5.58% to hit record high. The surge led by tech gains as markets reopened after a holiday break. European stocks eased marginally after firm moves in last session. The US stocks gained on US-Iran deal hopes. The major averages added to the gains posted during Tuesday's session, with the Nasdaq and S&P 500 hitting new record closing highs. MCX Copper futures are up 0.32% at Rs 1312.30 per kg.

Powered by Commodity Insights