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Commodity News

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(06 May 2025, 08:55)

Base Metals Preview: COMEX copper stays supported


COMEX Copper futures stayed supported amid sustained weakness in dollar overseas. Overnight equities came off their intraday lows but still ended in negative terrain, limiting gains in the red metal. The Nasdaq slid 133.49 points or 0.7 percent to 17,844.24, the S&P 500 fell 36.29 points or 0.6 percent at 5,650.38 and the Dow dipped 98.60 points or 0.2 percent to 41,218.83. Currently, the counter is quoting at $4.73 per pound, up 0.79% on the day. The red metal shed around 8.50% in the month, marking its first monthly drop after December 2024. On the MCX, copper futures are staying around Rs 840 per kg.

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