Base Metals Preview: COMEX copper hovers around record high levels

COMEX copper spiked back on Tuesday morning in Asia and is hovering around record high levels tracking a surge on Wall Street overnight. US stocks moved firmly on Monday, supported by lower Treasury yields and easing concerns about inflation due to a sharp drop in oil prices. The Dow climbed 366.19 points or 0.71 percent to finish at 52,048.83, while the NASDAQ soared 599.55 points or 2.26 percent to close at a record high of 27,122.09 and the S&P 500 gained 114.20 points or 1.49 percent to end at 7,764.70. The red metal is currently seen trading at $6.81 per pound, up 0.75% on the day.

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