Base Metals Preview: Copper Stays Under Pressure

20 Oct 2022 , 09:07 AM

Copper came under pressure on Thursday tracking higher yields, strength in dollar and weak equities. Profit taking contributed to the pullback on Wall Street. The Dow dipped 99.99 points or 0.3 percent to 30,423.81, the Nasdaq slid 91.89 points or 0.9 percent to 10,680.51 and the S&P 500 fell 24.82 points or 0.7 percent to 3,695.16. Lingering concerns about higher interest rates and the impact on the global economy also continued to weigh on the markets along with a jump in treasury yields. COMEX Copper was down 0.24% at $3.31 per pound. Powered by Commodity Insights