Base Metals Preview: Copper Continues To Stay Under Pressure

18 Nov 2022 , 09:04 AM

Copper continues to stay under pressure as covid-19 cases kept rising in China, including its capital city Beijing and southern city Guangzhou, increasing concerns about demand from the top metal consumer. Besides, hawkish comments from Federal Reserve officials also dented recent optimism about the outlook for interest rates. US stocks went on another wild ride over the course of the trading day on Thursday. The Dow edged down 7.51 points or less than a tenth of a percent to 33,546.32, the Nasdaq fell 38.70 points or 0.4 percent to 11,144.96 and the S&P 500 dipped 12.23 points or 0.3 percent to 3,946.56. COMEX copper was marginally higher by 0.05% at $3.69 per pound, supported by greenback that came off overnight surge. Powered by Commodity Insights