Base Metals Preview: Copper Holding Near $3.65 Mark

25 Aug 2022 , 08:51 AM

Copper prices are seen lingering near the flat line on Thursday, following a sharp decline of over 1% in the previous session. The red metal came off near two month high levels yesterday amid concerns of global economic slowdown reignited by bleak US data. China stepped up its economic stimulus with a further 1 trillion yuan ($146 billion) of measures to bolster growth and curb the fallout of repeated Covid lockdowns and the crisis in the property market. Meanwhile, the mood was cautious as investors looked ahead to Fed Chair Jerome Powells speech at the central banks economic symposium at Jackson Hole, Wyoming on Friday, for clues about the banks outlook for the economy and interest rates. COMEX copper was quoting up 0.32% at $3.65 per pound. Powered by Commodity Insights