Base Metals Preview: Copper flat in Asia

COMEX Copper futures eased a bit after hitting three-month high levels after recent gains. The metal continued to hold well above $5 per pound mark. Positive cues from the US equities and dollar decline alongside falling copper inventories is limiting downside in the red metal as it rallied around 8% in last month. The counter currently trades flat at $5.09 per pound. The US Stocks closed higher, extending a rally that has pushed major indexes to record highs.

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