Base Metals Preview: Copper Slumps 1.5% In Early Asia

12 Dec 2022 , 08:44 AM

Copper slumped by nearly 1.5% on Monday as dollar recovered well ahead of crucial inflation data and outcome of Federal Reserve meeting due this week. Besides, uncertainty over rising COVID-19 cases in China weighed on copper prices. Facing a surge in COVID-19 cases, China is setting up more intensive care facilities and trying to strengthen hospitals as Beijing rolls back anti-virus controls, as per media reports. COMEX copper is currently quoting down 1.5% at $3.82 per pound. Powered by Commodity Insights