Copper eased from a two week high of $4.84 per pound as markets eyed weak global economic growth estimates. The World Bank has lowered its forecast for global economic growth this year citing the impact of the war in Ukraine, World Bank President David Malpass said on Monday. The global growth outlook was reduced to 3.2% from 4.1%. The downgrade largely reflects the weaknesses seen in Europe and central Asia, which cover Russia and Ukraine, he said. The red metal currently quotes down 1% at $4.75 per pound. MCX Copper trades at Rs 831.30 per kg, down 0.69% on the day.
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