COMEX copper stayed supported on Tuesday tracking weakness in dollar overseas and positive cues from equities. The Nasdaq climbed 98.31 points or 0.5 percent to 21,978.70, the Dow increased 114.09 points or 0.3 percent to 45,514.95 and the S&P 500 rose 13.65 points or 0.2 percent to 6,495.15. Meanwhile, Asian stocks turned in a mixed performance on Tuesday amid global political turmoil and ahead of key U.S. inflation readings due this week that could influence the Federal Reserve's rate trajectory. LME Copper inventories slipped in last session, easing to a two-week low. Inventories dropped 2125 tonnes to 155825 tonnes on Monday. The red metal is currently quoting at $4.58 per pound, up 0.60% on the day.

Powered by Commodity Insights