Base Metals Preview: COMEX copper pulls back from 3-month high

COMEX copper eased in early Asia on Thursday following an over 1.5% spike in the previous session to a three month high amid supply worries as Global mining major Glencore stated that its sourced copper production of 583,500 tonnes was 121,700 tonnes in first three quarters of 2025, marking a drop of 17% compared to first three quarters of 2024, primarily due to lower head grades. The red metal is currently down 1.34% to trade at $5.19 per pound. The US stocks scaled up as the tech-heavy Nasdaq climbed 130.98 points or 0.6 percent to a new record closing high of 23,958.47 but the S&P 500 edged down 0.30 points or less than a tenth of a percent to 6,890.59 and the Dow fell 74.37 points or 0.2 percent to 47,632.00.

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