Market sources: India seeks to limit state governments' power to levy taxes on mineral resources and mines.

Iran's Islamic Revolutionary Guard Corps (IRGC) navy commander said any foreign vessel transiting the Strait of Hormuz will be identified, tracked and monitored by Iranian forces.

After a six-week rally, copper is trading in a narrow range as supply tightness and softer US rate-hike expectations keep prices elevated. LME copper topped $14,000/ton last week, reaching the highest level since late-January. Market expectations that the WHITE HOUSE will impose import tariffs have driven large copper flows into the US, tightening available supply elsewhere and supporting LME prices. Softer Fed tightening odds were reinforced by weaker-than-expected US jobs data on Friday, easing inf concerns and bolstering risk assets. CITIC Futures expects copper to remain elevated with heightened volatility in the near term.