Base Metals Preview: Copper Struggling To Hold Above $4.20 Per Pound

10 May 2022 , 09:13 AM

COMEX Copper is struggling to hold above $4.20 per pound on Tuesday, as tightening lockdowns in China stoked worries about demand, with a stronger dollar further weighing on the market. Copper fell below $4.15 per pound on Monday, its lowest in almost five months. Chinas exports and imports struggled in April as worsening Covid outbreaks cut demand, undermined production and disrupted logistics in the worlds second-largest economy. Export growth in April in dollar terms slowed to 3.9% from a year earlier, compared to an increase in March of 14.7%, customs data showed Monday. Imports were unchanged in April after sliding 0.1% in the previous month. Powered by Commodity Insights