Base Metals Preview: COMEX copper edges higher

COMEX Copper futures edged up in early Asian trades on Tuesday although broad weakness in the red metal continues. The metal currently trades at $4.48 per pound, up 0.21% on the day, but extending losses under $4.50 per pound mark. China's industrial production rose 5.7% in July from a year ago, easing from June's 6.8% increase, the National Bureau of Statistics reported Friday. China?s retail sales growth also eased to 3.7% from 4.8% in June. In another key data, during January to July period, China?s fixed asset investment increased 1.6% from the last year, weaker than the 2.8% rise in the first six months. Meanwhile, equities are mixed. The tech-heavy Nasdaq inched up 6.80 points or less than a tenth of a percent to 21,629.77, the S&P 500 edged down 0.65 points or less than a tenth of a percent to 6,449.15 and the Dow slipped 34.30 points or 0.1 percent to 44,911.82.

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