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Commodity News Details
Base Metals Preview: COMEX copper jumps to 3-week high
06-Mar-2025 08:31

COMEX is holding on to sharp gains registered in the previous session amid worries over global Copper market coupled with dollar extended weakness below 105 mark. US President Donald Trump has reiterated that 25% tariffs for aluminum, copper, steel are likely to be slapped. This pushed up the red metal that quoting higher by half a percent to hit a three week high above $4.81 per pound. Besides, positive cues from overnight equities also supported gains in the counter. The Nasdaq surged 267.57 points or 1.5 percent to 18,552.73, the S&P 500 shot up 64.48 points or 1.1 percent to 5,842.63 and the Dow jumped 485.60 points or 1.1 percent to 43,006.59.The MCX Copper futures are also holding at around Rs 879 per kg.

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