Base Metals Preview: Copper up around 1% in Asia

Copper turned lower yesterday amid bleak cues from equities. Major stock indexes closed sharply lower Wednesday, with the Dow Jones Industrial Average shedding more than 1,150 points to mark its worst day in 15 months, after the Federal Reserve kept interest rates intact. The blue-chip Dow, tech-focused Nasdaq Composite, and benchmark S&P 500 closed down a respective 2.2%, 1.7%, and 1.5%. Lows around $6.30 per ounce mark capped downside for COMEX Copper futures though and the metal zoomed up 1% in Asia to trade at $6.37 per pound.

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