Base Metals Preview: Copper Likely To Come Under Pressure

13 Sep 2022 , 08:42 AM

Copper futures are seen extending gains on Tuesday, tracking recovery rally in US stocks. With the continued advance, the major averages closed higher for the fourth consecutive session. The major averages finished the day firmly in positive territory. The Dow climbed 229.63 points or 0.7 percent to 32,381.34, the Nasdaq surged 154.10 points or 1.3 percent to 12,266.41 and the S&P 500 jumped 43.05 points or 1.1 percent to 4,110.41. However, dollar pausing recent slide and poor demand in top consumer China amid COVID led lockdown are likely to keep the red metal under pressure. Copper futures are currently quoting up 0.02% at $3.61 per pound. Powered by Commodity Insights