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Base Metals Preview: COMEX copper retreats from 9-month high
07-Mar-2025 08:36

COMEX copper paused recent rally but continue to hold around $4.7 mark in early Asia on Friday. The red metal spiked more than five per cent on Wednesday as U.S. President Donald Trump suggested imports of the metal could be subject to a 25% tariff. Last week, Trump announced that the Commerce Department would undertake a sweeping investigation that could lead to levies on copper on national security grounds. However, copper futures eased from a 9-month high and is currently quoting at $4.78 per pound, down 0.43% on the day as stocks on the Wall Street showed a substantial move back to the downside during trading on Thursday. The Nasdaq plummeted 483.48 points or 2.6 percent to 18,069.26, the S&P 500 plunged 104.11 points or 1.8 percent at 5,738.52 and the Dow slumped 427.51 points or 1.0 percent to 42,579.08.

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