Base Metals Preview: COMEX copper attempts recovery from 2-week low

COMEX copper is attempting recovery from around two-week low on Thursday morning in Asia as dollar pared previous day gains and equities regained ground. The Nasdaq surged 399.65 points or 1.5 percent to 26,270.36, the Dow shot up 645.47 points or 1.3 percent to 50,009.35 and the S&P 500 jumped 79.36 points or 1.1 percent to 7,432.97. Early this week, the red metal slumped amid concerns over inflation linked to the Iran conflict, softer Chinese economic data and a firmer US Dollar (USD) dampen expectations for industrial demand. Currently, the counter is quoting at $6.32 per pound, down 0.20% on the day.

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