Base Metals Preview: COMEX copper futures surge nearly 2% in early Asia

COMEX Copper ascends near a two week high on Tuesday morning in Asia as Chinese traders return after Lunar New Year holiday. Gains in the metal came despite firm dollar and even as equities languish in negative. The major averages on Wall Street ended the day off their lows of the session but still firmly negative. The Dow slumped 821.91 points or 1.7 percent to 48,804.06, the Nasdaq slid 258.80 points or 1.1 percent to 22,627.27 and the S&P 500 declined 71.76 points or 1.0 percent to 6,837.75. The sell-off on Wall Street came amid renewed trade uncertainty following the Supreme Court's decision last Friday striking down most of President Donald Trump's sweeping global tariffs. The red metal is currently quoting at $5.88 per pound, up 1.92% on the day.

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