COMEX copper is seen extending losses below $3.8 levels as resurfacing recession worries are offsetting hopes of increased demand from China. The metal was supported in the previous session as China relaxed its COVID-19 quarantine mandates. Overnight gains in the US dollar also added pressure on copper prices. The red metal is currently quoting down 0.69% at $3.7320 per pound. Meanwhile, A report from the Conference Board showed U.S. consumer confidence deteriorated to its lowest level in over a year in June. The Conference Board said its consumer confidence index slid to 98.7 in June from a downwardly revised 103.2 in May. Powered by Commodity Insights
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