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Base Metals Preview: COMEX copper loses momentum in early Asian trades
22-Jul-2025 09:03

COMEX Copper futures lost momentum from a one and half week high on Tuesday morning in Asia although the red metal continues to hold well above $5 per pound mark. Retreating dollar under 98 mark coupled with positive cues from equities kept the commodity supported. Despite the late-day pullback, the Nasdaq and the S&P 500 ended the session at new record closing highs. The Nasdaq rose 78.52 points or 0.4 percent to 20,974.17 and the S&P 500 inched up 8.81 points or 0.1 percent to 6,305.60, although the narrower Dow edged down 19.12 points or less than a tenth of a percent to 44,323.07. Currently, copper futures are quoting at $5.60 per pound, down half a percent on the day.

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