Base Metals Preview: Copper Seen Reviving In Asian Trades

3 Aug 2022 , 08:55 AM

Copper is seen reviving in early Asia on Wednesday, following a sharp fall of more than 1% in the previous session as risk aversion mounted amid escalated geopolitical tensions between the US and China over House Speaker Nancy Pelosis visit to Taiwan and mounting fears of a global recession. COMEX copper was quoting higher by 0.55% at $3.49 per pound. U.S. stocks closed on a weak note on Tuesday as rising tensions between the U.S. and China, and signs of slowing global growth weighed on sentiment. The major averages all ended in negative territory although the S&P 500 and the Nasdaq managed to spend some time above the flat line. Powered by Commodity Insights