Base Metals Preview: COMEX copper edges lower as equities turn lower

COMEX copper pulled back in early Asia on Thursday as dollar is regaining ground on safe haven demand amid uncertainty over US-Iran ceasefire. Asian markets are trading mostly lower on Thursday, despite the broadly positive cues from Wall Street overnight, as traders remained cautious after renewed Israeli strikes on Lebanon raised doubts about the durability of a fragile two-week Middle East ceasefire agreed upon by the U.S. and Iran. Meanwhile, the World Bank projects China's economic growth will slow to 4.2% in 2026 and 4.3% in 2027, according to the latest East Asia and Pacific Economic Update released in April 2026. Currently, the red metal is quoting at $5.72 per pound, down around 1% on the day.

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