Base Metals Preview: Copper recovers from two week low

Copper slumped yesterday as weakness in Chinese economic activity weighed on the metal. The Conference Board Leading Economic Index (LEI) for China declined by 0.2% in March 2026 to 144.8 (2016=100), matching the 0.2% drop recorded in February. Over the six-month period from September 2025 to March 2026, the LEI contracted by 1.3%, following a steeper 2.0% decline in the preceding six months, pointing to ongoing softness in near-term economic momentum. COMEX Copper futures saw accelerated losses and tested the lowest levels in last two-weeks before witnessing a recovery. The metal is back above $6 per pound in Asia today and trades up 0.61% at $6.01 per pound.

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