Copper in demand as break above $6 per pound extends

COMEX Copper futures surged to fresh three-month high above $6.40 per pound amid steady equities. The metal is looking comfortable amid AI boost, clean energy and power-grid demand. The break above $6 per pound is also helping Copper stay afloat. MCX Copper futures raced near Rs 1350 per kg as a record low for Indian Rupee pushed up the counter further. MCX Copper futures are currently up 1.70% at Rs 1347.50 per kg. Meanwhile, in Asia, China's Shanghai Composite index jumped 1% while Hong Kong?s Hang Seng index closed flat. Japan?s Nikkei average dropped 0.47%. European stocks are witnessing mixed moves. German DAX is lower by 0.11% while UK stocks are up modestly. The US stocks gained on Friday as the tech-heavy Nasdaq led the way higher and reached a new record closing high along with the S&P 500.

Powered by Commodity Insights