02 May, 10:39 - Indian

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02 May, 10:39 - Global

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(28 Apr 2025, 17:38)

Copper marginally lower but holds in a range after hitting three week high

COMEX Copper futures are consolidating around $4.80 per pound, witnessing a very tight movement after recent gains. The metal hit a three-week high in last week before pulling back though supportive equities and weak US dollar are keeping overall price action choppy. The counter currently trades at $4.83 per pound, down 0.26% on the day. On the MCX, Copper futures are trading at Rs 852 per kg, down 0.36% on the day. Meanwhile, Asian stocks stayed positive as the US Treasury Secretary Scott Bessent said the Trump administration is working on bilateral trade deals with leading trading partners. European stocks added to latest gains as trade concerns eased amid positive comments from the US officials as well as IMF chief Kristalina Georgieva. The US stocks stayed broadly supported on Friday. The Nasdaq and the S&P 500 index closed higher for the fourth straight session.
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