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Base Metals Preview: COMEX copper extends losing streak
23-Jun-2025 08:44

COMEX copper extends losing streak on Monday morning tracking pessimistic Asian equities as risk appetite was battered by the U.S. attacking Iran's nuclear sites over the weekend, marking a potentially dire escalation in the Middle Eastern conflict. The US reportedly attacked three key Iranian nuclear facilities over the weekend, marking America's official entry into the renewed Israel-Iran conflict. Investors were now watching for how Tehran will respond to the attack. The red metal is up around 3% so far this month but has mostly trended lower after hitting a two-month high of $5 per pound hit at the start of the month. Currently, the counter is quoting lower by around half a percent at $4.82 per pound. On the MCX, copper futures held around Rs 880 per kg.

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