The decline in Asian equities will hamper many commodities because the base metal were taking cues from the world stocks, it is at three weeks high. But that hasn’t translated for the equities right now.

Copper is trading at a four and a half year high after the supply concerns arising out of the Escondida mines where the union leaders have now put their wage demand in front of the management and are awaiting some kind of a communication.

Copper has seen a 6% gain this week. If the strike continues through then it will gain another 10% easily.

Crude oil prices have seen strength come back, it is back at around $77 per barrel mark on the back of Venezuela exports.