Base Metals Preview: Copper futures stay upbeat in early Asia

COMEX copper futures climbed over 1.5% on Monday morning in Asia following a sharp retracement to near four-month low earlier in the month. Demand for copper remains upbeat as computers, artificial intelligence (AI) data centers, and electric vehicles need massive amounts of copper wires to run although high interest rates and changing political trade rules are making investors nervous. Sharp pull back in US equities could also limit gains n the red metal which is currently quoting at $6.34 per pound. The Dow fell 237.33 points or 0.5 percent to 51,285.73, the S&P 500 rose 23.13 points or 0.3 percent to 7,376.86 and the Nasdaq jumped 264.43 points or 1.1 percent to 24,579.42.

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