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Base Metals Preview: COMEX Copper Hits One Week High

17 Mar 2022 , 09:09 AM

COMEX Copper edged up to a one week high amid firm equities as optimism about a potential diplomatic solution to the ongoing Russia-Ukraine conflict triggered good buying. Ukrainian President Volodymyr Zelenskyy said during an address to the nation that the positions in the negotiations were beginning to look more realistic, media reports noted. The US stocks soared amid sustained bargain buying. DOW jumped 1.6%. The Asian markets also extended gains amid these cues. COMEX Copper currently trades up 0.38% at $4.64 per pound. MCX Copper futures ended at Rs 798.85 per kg, up 1.1% on the day.

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