Base Metals Preview: Copper hits fresh 3-month high, stays comfortably around $6.5 per pound mark

COMEX Copper futures surged over a fresh three-month high near $6.50 per pound amid steady equities. Overnight, the Dow rose 95.31 points or 0.2 percent to 49,704.47, the Nasdaq inched up 27.05 points or 0.1 percent to 26,274.13 and the S&P 500 edged up 13.91 points or 0.2 percent to 7,412.84. However, an uptick in dolar index cold limit gains in the red metal. The metal is looking comfortable amid AI boost, clean energy and power-grid demand. The break above $6 per pound is also helping Copper stay afloat. Currently, the counter is quoting at $6.50 per pound, up 0.61% on the day.

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