Base Metals Preview: Copper seen supported near $4.6 per pound mark

COMEX Copper futures stayed supported around $4.6 mark in early Asia on Monday. The metal climbed 1% on Friday after having soared 2.70% in the previous session as US GDP expanded at 3.3% in April-June after shrinking 0.5% in the first three months of 2025. The department had initially estimated second-quarter growth at 3%. Copper also eyed long term clean energy demand and currently trades up 0.75% at $4.57 per pound. These are the highest levels in last one-month. The metal has gained around 5% in August after a 14% drop in previous month. Meanwhile, gains were limited as US equities ended the day off their lows of the session but still in negative territory. The Nasdaq slumped 249.61 points or 1.2 percent to 21,455.55, the S&P 500 slid 41.60 points or 0.6 percent to 6,460.26 and the Dow dipped 92.02 points or 0.2 percent to 45,544.88.

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