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Commodity Post Session News

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(29 Apr 2025, 18:01)

Copper zooms near one month high as market pin hopes on China

COMEX Copper futures spiked today as China hopes boosted the metal near one month top. China is downplaying the potential impact from global trade war, according to media reports. A briefing by several senior officials of different government ministries tried to prop up confidence and hinted at support for companies and the unemployed, easier lending conditions and other policies to counter the impact of US tariffs. COMEX Copper futures are currently up 1% at $4.95 per pound. MCX Copper is also up 0.43% at Rs 858.25 per kg as lows around Rs 850 per kg offered good support. Meanwhile, in equities, China's Shanghai Composite index closed flat yet again. Hong Kong's Hang Seng index added 0.16%. Japanese markets were closed for Showa Day holiday. European stocks were in green with German DAX rising 0.70%. The US stocks saw choppy moves. The Nasdaq edged down and the Dow rose marginally.
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