Base Metals Preview: Copper Prices Edge Lower

12 Sep 2022 , 09:13 AM

Copper futures lost weekend momentum and are trading slightly lower on Monday, down half a percent at $3.53 per pound. However, weaker dollar and lower-than-expected inflation numbers from China are expected to restrict sharp losses for the commodity. Last week, the commodity gained tracking weakness in dollar overseas and improving equities. Stocks moved sharply higher over the course of the trading session on Friday and the major averages snapped a three-week losing streak. The Dow jumped 377.19 points or 1.2 percent to 32,151.71, the Nasdaq surged 250.18 points or 2.1 percent to 12,112.31 and the S&P 500 shot up 61.18 points or 1.5 percent to 4,067.36. Powered by Commodity Insights