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Copper futures trade lower on Covid lockdown in China

28 Mar 2022 Evaluate

Copper futures traded lower on Monday as Covid lockdown in China’s Shanghai dampened the demand outlook. Further, strength in US dollar and US Fed’s interest rate hike expectations also added pressure on copper prices. But sustained energy issues capped further fall in copper prices.

Copper futures for May delivery lost $0.0385 or 0.82% at $4.66 a pound on the Comex metals division of New York Mercantile Exchange.