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Base Metals Preview: Copper In Top Form
(26-Apr-2024, 08:04 Hours IST)
COMEX Copper futures stayed well supported, breaking above $4.50 per pound to near 20 month high amid largely steady equities. Markets eyed M&A activity in the mining sector, as Australian giant BHP Group's takeover proposal for Anglo American. Equities mostly held up to their recent momentum. UK stocks hit record high on Thursday, on track for its third record closing high of the week. Copper also benefited from weakness in the US dollar and ideas that recent fall in LME Copper inventories will trigger good demand for the commodity from funds.

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