Copper rebounds more than 2% after testing two-week low

COMEX Copper futures stayed largely supported today as markets eyed equities. In Asia, China's Shanghai Composite index rose 1.70% while Hong Kong?s Hang Seng index slipped 0.70%. Japan?s Nikkei average added 1.40%. European stocks edged up modestly. The US stocks came under pressure after President Donald Trump said the ceasefire agreement was over. The Dow Jones Industrial Average dropped 1.1%. This pulled Copper down around 2%, dragging it near one-week low. However, a bounce emerged in the counter today. Macros were also in focus as The International Monetary Fund noted that the global economy navigated the Iran war better than anticipated. COMEX Copper futures are currently trading at $6.24 per pound, up 2.14% on the day. MCX Copper futures are up 1.36% at Rs 1285.30 per kg.

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