Base Metals Preview: Copper seen pressured under $4.70 per pound mark

COMEX Copper futures are paring previous day gains in early Asia on Tuesday following a 1.5% rise yesterday. Equities stayed supported alongside weakness in greenback although damp economic cues capped upside. China?s industrial production rose 5.2% year-on-year in August, data from the National Bureau of Statistics showed on Monday. This marked moderation from 5.7% rise seen in July. Copper is quoting at $4.68 per pound at the time of writing, down over half a percent on the day. Meanwhile, the Nasdaq jumped 207.65 points or 0.9 percent to 22,348.75 and the S&P 500 climbed 30.99 points or 0.5 percent to 6,615.28. The narrower Dow posted a more modest gain, inching up 49.23 points or 0.1 percent to 45,883.45. The strength on Wall Street came following positive comments from President Donald Trump about trade talks between top U.S. and Chinese officials in Europe.

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