Base Metals Preview: Copper rebounds from over one-week low in early Asia

COMEX copper rebounds above $6.6 per pound mark on Monday morning in Asia as dollar holds to losses well below 102 mark. The US 10-year Treasury yield also slipped to around 5.06% on Monday, hovering near four-week lows as dovish signals from Federal Reserve Chair Kevin Warsh prompted traders to dial back bets on an October rate hike. However, lower equities limit the gains in the red metal which is currently quoting at $6.62 per pound. Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from Wall Street on Friday, amid spiking crude oil prices as well as a sell-off in technology and semiconductor stocks on concerns of returns on huge AI infrastructure spending. Escalating Middle East tensions and attacks on commercial vessels in the Strait of Hormuz kept oil-supply disruption risks in focus.

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