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Base Metals Preview: COMEX copper steadies near $4.57 per pound mark
03-Mar-2025 09:09

COMEX copper futures are steadying around $4.57 per pound mark on Monday morning in Asia. On Friday, the Nasdaq surged 302.86 points or 1.6 percent to 18,847.28, the S&P 500 shot up 92.93 points or 1.6 percent to 5,954.50 and the Dow jumped 601.41 points or 1.4 percent to 43,840.91. Despite the late-day rally, the Nasdaq plunged by 3.5 percent for the week and the S&P 500 slumped by the 1.0 percent. The narrower Dow, on the other hand, posted a 1.0 percent weekly gain. The red metal is currently quoting at $4.57 per pound, up 0.69% on the day. Meanwhile, an LME Copper inventory continues to slip in last session to test one and half week low. Inventories dropped by 1575 tonnes to 262,075 tonnes, continuing to come off seven week high.

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