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Commodity News

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(04 Feb 2025, 08:37)

Base Metals Preview: Copper recovers ground above $4.30 mark


Copper is seen holding on to previous day gains and is up almost 1% on the day at $4.34 per pound on Tuesday morning in Asia. Slight recovery in overnight equities after a sharp slide and coming off their worst levels supported the red metal to some extent. After plunging by as much as 2.5 percent in early trading, the tech-heavy Nasdaq finished the session down 235.49 points or 1.2 percent at 19,391.96. The S&P 500 also slid 45.96 points or 0.8 percent to 5,994.57, while the Dow fell 122.75 points or 0.3 percent to 44,421.91. The recovery attempt by stocks came after President Donald Trump confirmed he has reached an agreement with Mexican President Claudia Sheinbaum to pause recently implemented tariffs on Mexico for one month.

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