COMEX Copper stayed supported as global stocks edged up on reports of fresh fiscal stimulus from China following a recent string of data indicating a sharp slowdown in the world's second-largest economy. European markets saw some cautious trades though as European Central Bank could be set to ask Italian lenders to set aside further capital to deal with impaired loans. The Brexit worries capped upside for the red metal though. The COMEX Copper futures ended are currently trading at $2.65 per pound, up 0.40% on the day. MCX Copper futures closed at Rs 416.50 per kg, slightly up on the day.

However, the economic cues stayed weak. New York manufacturing activity grew at its slowest pace in over a year in the month of January, according to a report released by the Federal Reserve Bank of New York on Tuesday. The New York Fed said its general business conditions index slumped to 3.9 in January. Germany's economy grew for a ninth year in 2018, but the expansion was slowest in five years, largely driven by domestic demand, preliminary data from the Federal Statistical Office showed today. Gross domestic product rose a price-adjusted and chain-linked 1.5% from 2017, when it expanded 2.2%.

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