COMEX Copper futures jump nearly 2% as equities see across the board spurt

COMEX Copper futures jumped from a three-week low as equities surged amid hopes of US-Iran truce. The red metal currently trades up 1.86% at $6.39 per pound. MCX Copper gained 0.68% to trade at Rs 1334.40 per kg. In Asia, China's main CSI300 index rose 1.12%. Hong Kong's benchmark Hang Seng index jumped 1.93%. Japan?s Nikkei average zoomed up 2.81%. European stocks saw excellent gains with major indices rallying around 2%. The US equities had their best day in two months amid a tumble in crude oil prices. S&P 500 jumped 1.8% as easing Iran tensions sparked hopes for renewed oil flows, cooler inflation, and a Fed rate pause. Copper could still witness some choppy moves amid broad demand uncertainty on global growth outlook. The World Bank has cut its global growth forecast for 2026 to 2.5%, saying that the slowdown is the worst hit to the global economy since the COVID-19 pandemic.

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