Base Metals Preview: Copper Down Nearly 2% In Early Asia

28 Nov 2022 , 08:58 AM

Copper prices dropped nearly 2% in early Asia on Monday tracking a firm dollar amid unrest over zero-covid policy and renewed COVID-19 lockdowns in China. China is facing a wave of civil disobedience over its strict zero-COVID policy, with demonstrators and police clashing in several major cities amid growing public discontent over lockdown measures. This also dented Chinas appetite for commodity imports, hurting copper prices. COMEX copper is currently quoting at $3.56 per pound, down 1.83% on the day. Powered by Commodity Insights