Quote on commodities by Mr. Ashish Rajodiya, Head of Commodity at PL Capital Group
Below the Quote on commodities by Mr. Ashish Rajodiya, Head of Commodity at PL Capital Group
“MCX copper reversed sharply on Thursday to trade near Rs1,378 per kg, down almost 3% for the day, after Reuters reported that the White House has stalled its decision on copper import tariffs amid concerns over rising costs for manufacturers ahead of the US midterm elections. Copper had been trading in positive territory earlier in the session, with the market having built up positions anticipating a tariff announcement, but the delay triggered widespread profit-booking and a sharp unwinding of those bets, dragging prices lower through the day. Underlying supply conditions remain tight, so this correction looks driven more by positioning than by any genuine shift in demand, and prices could stabilise once the market resets its tariff expectations.”
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