Base Metals Preview: COMEX copper soars over 2% in early Asia

COMEX Copper futures are soaring at fresh high levels on Wednesday morning in Asia, amid largely steady equities. Persistent supply deficits caused by mine disruptions, strong demand for the red metal, and a weaker U.S. dollar are contributing to gains in the commodity. The metal is consolidating above $6 per pound, rising for fourth session and holding onto the momentum. COMEX Copper futures are currently trading at $6.15 per pound, up 2.20% on the day. Meanwhile, in overnight equities, the Dow slid 398.21 points or 0.8 percent to 49,191.99, the Nasdaq edged down 24.03 points or 0.1 percent to 23,709.87 and the S&P 500 dipped 13.53 points or 0.2 percent to 6,963.74.

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