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Copper futures trade lower on strong US dollar

26 Sep 2022 Evaluate
Copper futures traded lower on Monday as the US dollar strengthened to new 20-year high, while growing fears of hiking interest rates by the US Federal Reserve and potential global recession also put pressure on copper prices globally. However, concerns over a potential supply crunch following a strike at the world’s largest copper mine Escondida in Chile, supported copper prices. 

Copper futures for December delivery lost 1.14% or $0.0380 at $3.3050 a pound on the Comex metals division of New York Mercantile Exchange.