Base Metals Preview: COMEX copper takes a breather after 3% spike

COMEX Copper futures are paring gains in early trades on Tuesday following an over 3% spike in the previous session. The counter climbed to a one-week high amid firm cues from equities after the Senate voted to advance legislation to end the government shutdown, which recently became the longest in U.S. history. The Nasdaq surged 522.64 points or 2.3 percent to 23,527.17, the S&P 500 jumped 103.63 points or 1.5 percent to 6,832.43 and the Dow advanced 381.53 points or 0.8 percent to 47,368.63. The metal eyed positive development on the US government shutdown as Senate voted 60-40 to end the longest-running government shutdown. MCX Copper is trading above Rs 1000 per kg.

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