Base Metals Preview: COMEX copper edges higher in early Asia

Positive bias in overnight equities kept copper prices supported on Tuesday morning in Asia although dollar regaining appetite near 100 mark is likely to cap gains for the counter. Stocks fluctuated over the course of the trading session on Monday but largely maintained a positive bias before ending the day mostly higher. With the upward move, the major averages on Wall Street added to the strong gains posted last week. The Nasdaq advanced 117.16 points or 0.5 percent to 21,996.34, the S&P 500 climbed 29.14 points or 0.4 percent to 6,611.83 and the Dow rose 165.21 points or 0.4 percent to 46,669.88. Currently, copper futures are trading at $5,62 per pound, up 0.34% on the day.

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