Base Metals Preview: Copper Plunges By Nearly 1%

2 Dec 2022 , 09:14 AM

Copper plunged by nearly 1% on Friday tracking a relatively lackluster performance in equities and dollar recovery overseas. The red metal came under pressure after International Monetary Fund Managing Director Kristalina Georgieva said on Friday that inflationary pressures were rising in Asia which, along with Chinas slowing growth, were among risks to the regions economic outlook. Meanwhile, the Dow slid 194.76 points or 0.6 percent to 34,395.01 and the S&P 500 edged down 3.54 points or 0.1 percent to 4,076.57. COMEX copper was seen quoting down by 0.93% at $3.78 per pound. Powered by Commodity Insights