Base Metals Preview: COMEX copper stays around one-month high

COMEX Copper futures continue to edge higher near a one-month high on Tuesday morning in Asia despite lack of cues from overnight equities as US markets were closed on the account of Labor Day 2025 on Monday, 1 September. The counter is currently quoting at $4.59 per pound, up marginally on the day. Meanwhile, manufacturing sector in China improved midway through the third quarter, according to latest PMI data. Manufacturing production returned to growth on the back of rising new orders. The headline seasonally adjusted Purchasing Managers? Index (PMI) posted 50.5 in August, up from 49.5 in July. Rising above the 50.0 no-change threshold in August, the latest figure signalled that manufacturing sector conditions improved midway through the third quarter of the year. On the MCX, Copper futures broke above Rs 900 per kg.

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