Base Metals Preview: COMEX copper accentuates gains near record high levels

COMEX copper is accelerating gains towards recent record higher levels amid signs of stronger demand and expectations of tighter global supply. Expectations of sustained long-term consumption driven by data centers and renewable energy projects are also benefiting the red metal. Meanwhile, in the US, the Nasdaq and S&P 500 ended the day in positive territory, the narrower Dow posted a modest loss on the day. The Nasdaq climbed 104.25 points or 0.4 percent to 26,522.55 and the S&P 500 rose 12.74 points or 0.2 percent to 7,650.50, but the Dow dipped 95.40 points or 0.2 percent to 51,682.64. Currently, the counter is quoting at $6.73 per pound, up 0.61% on the day.

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