COMEX Copper Slumps 4%, MCX Futures Approach Near Rs 630 Per Kg

23 Sep 2022 , 04:34 PM

COMEX Copper slumped today as markets continued to worry about global economic growth and the recent surge in the LME Copper inventories. International Monetary Fund Managing Director Kristalina Georgieva has said she expects slowing growth from higher borrowing costs will make next year feel like a recession for millions of people, even if the global economy avoids a technical downturn, according to media reports. COMEX Copper futures are down around 4% to a two month low of $3.32 per pound. MCX Copper futures also lost 3.30% to trade at Rs 634.70 per kg as a early slide under Rs 650 mark continued for the red metal. Powered by Commodity Insights