Base Metals Preview: Copper attempts recovery amid pull back in dollar overseas

COMEX copper is seen reducing decline on Monday morning in Asia tracking a pull back in dollar overseas. The dollar index slipped to near 101 levels, giving back some of last week's gains as oil prices retreated following a pause in hostilities between the US and Iran over the weekend, easing concerns over supply disruptions and inflation. Asian stock markets also climbed early today as crude oil prices fell sharply and Middle East tensions eased over the weekend, providing some much needed support to the red metal which is currently seen quoting at $6.35 per pound. Meanwhile, China?s industrial profits rose 18.7% on year to CNY 3.95 trillion in the first half of 2026, easing marginally from an 18.8% growth in the January-May period, data showed.

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