Base Metals Preview: COMEX copper hovers at two-week high

COMEX copper futures climb in early Asian trades on Wednesday, holding at a two-week high tracking weakness in dollar and a rebound in overnight equities. The Nasdaq jumped 236.41 points or 1.0 percent to 22,863.68, the Dow advanced 370.44 points or 0.8 percent to 49,174.50 and the S&P 500 climbed 52.32 points or 0.8 percent to 6,890.07. Meanwhile, Chinese markets resumed operations yesterday after the Lunar New Year holidays, boosting demand in the red metal. The counter is currently quoting at $5.95 per pound, up 0.32% on the day.

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