Base Metals Preview: COMEX copper takes a breather near one-month high

COMEX copper takes a breather on Wednesday morning in Asia following a more than 3% surge late yesterday taking cues from positive US equities. The major averages on Wall Street moved notably higher, with the Nasdaq leading the charge. The major averages finished the day off their highs of the session but still firmly positive. The Nasdaq jumped 329.13 points or 1.3 percent to 25,837.21, the S&P 500 advanced 65.92 points or 0.9 percent to 7,509.20 and the Dow climbed 385.38 points or 0.7 percent to 52,224.64. The red metal was currently seen trading at $6.54 per pound, marginally lower on the day but still holding around its highest level in more than a month.

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