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Copper futures end lower on escalating geopolitical tensions

04 Aug 2022 Evaluate
Copper futures ended lower on Wednesday on escalating geopolitical tensions between the United States and China as US House Speaker Nancy Pelosi arrived in Taiwan on Tuesday despite Beijing’s objections. Moreover, slowdown in global economic growth also adding pressure on red metal prices.

Copper futures for September delivery lost $0.0515 to settle at $3.467 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 1.65 percent at $7,677.50 a ton.