Base Metals Preview: COMEX copper up 1.5% in early Asia

COMEX copper is up around 1.5% at $5.53 per pound on Tuesday morning in Asia as dollar took a back seat amid reports of US Iran negotiations. Copper is down around 10% this month, though the pullback has attracted renewed Chinese buying, as per reports. Meanwhile, cautious equities awaiting developments in the Middle East is capping gains in the red metal. Overnight, the Nasdaq slid 184.87 points or 0.8 percent to 21,761.89, the S&P 500 fell 24.63 points or 0.4 percent to 6,556.37 and the Dow dipped 84.41 points or 0.2 percent to 46,124.06.

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