Base Metals Preview: COMEX copper seen supported well above $6 per pound mark

Copper futures are seen supported at $6.21 per pound on Monday morning in Asia tracing pull back in dollar following weaker than expected jobs data. Besides, Asian stock markets are trading mostly higher on Monday, following broadly positive cues from European markets and lack of cues from Wall Street on Friday, on easing global inflationary pressures amid easing Middle East tensions and hopes the US Fed will not tighten its monetary policy for now. The red metal is trading near historic highs, driven by tight global mine supplies and surging structural demand from renewable energy systems.

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