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Copper futures end lower on global recession fears

17 Dec 2022 Evaluate
Copper futures ended lower on Friday as the US Federal Reserve and other major central banks raised policy rates and indicated further rate hikes ahead, fuelled fears of a global recession. Moreover, surging Covid-19 cases in the world’s top metal consumer China also weighed on red metal prices.

Copper futures for March delivery lost $0.0015 to settle at $3.7615 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.33 percent at $8,266.50 a ton.