empty
 
 

12.03.202604:11:06UTC+00Copper Declines as Strong Dollar Weighs

Copper futures slipped below $5.80 per pound on Thursday, extending the previous session’s losses as a stronger US dollar weighed on prices amid renewed inflation concerns driven by rising oil. Crude advanced for a second straight day, with fears of a prolonged conflict involving Iran overshadowing a coordinated release of strategic reserves by major consuming nations.

Mounting forward-looking inflation risks have tempered expectations for Federal Reserve interest rate cuts, with current forecasts now pointing to only a single reduction later this year, lending further support to the dollar and adding pressure on dollar-denominated commodities such as copper.

On the trade front, the Trump administration opened fresh investigations into China, the European Union, and several other economies, in an effort to reinstate President Donald Trump’s reciprocal tariffs that were recently invalidated by a Supreme Court ruling.

Still, opportunistic dip-buying by Chinese fabricators offered some cushion to prices, underpinned by robust demand from the construction sector and the rapidly expanding renewable energy industry.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback