Base Metals Preview: Copper Spikes 1.5% In Early Asia

1 Nov 2022 , 09:03 AM

Copper bounced back 1.5% in early Asia on Tuesday, following a sharp decline in the last three sessions. Weakness in the dollar index overseas also supported the red metal. COMEX copper is currently quoting up 1.42% at $3.42 per pound. Copper has been under pressure amid weaker-than-expected manufacturing data from China, the worlds largest copper importer. Besides, new COVID outbreaks in the country are also expected to disrupt economic activity, which could further weigh on commodity demand.Powered by Commodity Insights