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Commodity News Details
Copper holds gains following US-China trade deal hopes
12-May-2025 17:57
COMEX Copper stayed largely supported after testing one-month low on Friday as firm equities pushed the metal higher. The counter currently trades up 0.30% at $4.66 per pound. MCX Copper futures are up 0.26% to trade at Rs 853.80 per kg after hitting a high of Rs 855.45 per kg. In Asia, equities edged up right from the start today. China's Shanghai Composite index jumped 0.82%, adding to recent gains. Hong Kong's Hang Seng index spiked 3%. Japan's Nikkei index rose 0.40%. European stocks edged up impressively with German DAX soaring 0.80% on the day. U. and China struck a deal to suspend tariffs for 90 days and slash rates going forward, following negotiations in Switzerland over the weekend. The US trade representative Jamieson Greer announced a 90-day pause on tariffs. The US tariffs on Chinese goods will fall to 30% from 145% while Chinese duties on U.S. imports will fall to 10% from 125%, the two countries announced today.

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