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Copper futures trade lower on demand concerns

16 May 2022 Evaluate

Copper futures traded lower on Monday due to demand concerns following fears of economic slowdown globally. However, some losses were capped as US Fed Chairman Powell reiterated that a 75 basis point increase is not being actively considered.

Copper futures for July delivery lost $0.0220 or 0.53% at $4.1530 a pound on the Comex metals division of New York Mercantile Exchange.