Copper prices edged higher on Tuesday, but remained near the previous
session's six-year low as market players monitored movements on
China's volatile stock market.
Comex copper for September delivery last traded at $2.376, higher 0.96% a pound.
On Monday, copper dropped to $2.336, a level not seen since June 2009, before ending at $2.353, down 2.9 cents, or 1.22%.
Traders continued to watch action in China, a day after the Shanghai Composite Index dropped 8.5%, for its biggest decline in more than eight years. On Tuesday the benchmark regained ground trading 1.70% lower.
Earlier Tuesday, the People's Bank of China said in a statement before the market opened, it would act to stabilize the financial market.
Elsewhere, futures on the Dow Jones, S&P 500 and Nasdaq are recovering. The Stoxx Europe 600 index is also up nicely.
Crude is struggling to hang onto $47 a barrel, and gold is failing to make it back to $1,100 an ounce. Gold futures for December delivery dropped 0.35%, to trade at $1,092.90 a troy ounce.
The dollar is rising after a tumble yesterday with the dollar index staying at 97.05, higher 0.43%.
