Copper price slips as US dollar hits 20-year high
The copper price fell on Friday as the US dollar rose to a 20-year high and as global equities tumbled on worries over a higher interest rate environment hurting global growth. Copper for delivery in July fell 0.5% from Thursday’s settlement price, touching $4.26 per pound ($9,391 per tonne) midday Friday on the Comex market in New York. The most-active June copper contract on the Shanghai Futures Exchange fell 1.3% to 72,100 yuan ($10,783.89). The Federal Reserve on Wednesday raised its benchmark overnight interest rate by half a percentage point,…
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