Base Metals Preview: COMEX copper holds on to $6 per pound mark

COMEX copper is holding on to $6 per pound mark on Monday morning in Asia even as firm dollar and weakness in equities weigh on the commodity. Asian stock markets are a sea of red on Monday, following the broadly negative cues from Wall Street on Friday, as traders remain cautious and concerned about the fallout of the outbreak of hostilities between the United States and Israel against Iran over the weekend. Diplomatic efforts between the U.S. and Iran aimed at easing tensions over Tehran's nuclear program concluded on Thursday without an agreement. The red metal is currently quoting at $6.05 per pound.

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