Hot Commodities: Copper fails to sustain gains, down more than 1% in Asia

COMEX Copper futures are turning lower today as elevated inventories clubbed with near term demand worries are capping upside. Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from Wall Street overnight, after signs of easing in the Middle East conflict surfaced, with US President Donald Trump announcing a five-day pause on strikes over Iran. However, uncertainty lingers around this narrative and COMEX Copper failed to hold on after a near 2% upswing in last session. The metal currently trades down 1.15% at $5.40 per pound. It is still down more than 10% in this month and is not far from four-month lows.

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