Copper prices are lingering at its lowest level in a month on Friday as deteriorating outlook for the global economy raised demand concerns. US Federal Reserves large rate hike by 75 basis points on Wednesday, the largest increase since 1994, to rein in soaring inflation and expectations of further steady hiked for the rest of 2022 fuelled worries about recession. Meanwhile, Chinas new home prices fell for the second month this year, depressed by still fragile demand as widespread covid-19 curbs dented already weak buyer confidence. COMEX Copper futures are trading at $4.09 per pound, down around 0.32%. Powered by Commodity Insights
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