Base Metals Preview: Copper Lingers Near One-Week Low

16 Sep 2022 , 08:56 AM

Copper is seen trading close to the flat line on Friday, although the red metal is all set to record a weekly fall of more than 2.5%. Strength in dollar, hovering near two decade highs pulled by strong treasury yields on expectations of rising interest rates are seen weighing on copper prices. Besides, firmly negative US stocks overnight added to woes for the industrial metal. The Dow slid 173.27 points or 0.6 percent to 30,961.82, the Nasdaq tumbled 167.32 points or 1.4 percent to 11,552.36 and the S&P 500 slumped 44.66 points or 1.1 percent to 3,901.36. Copper futures are trading at a one-week low, quoting almost flat at $3.47 per pound. Powered by Commodity Insights