Copper falls as dollar firms amid virus worries

Copper falls as dollar firms amid virus worries

FILE PHOTO: Copper rods are seen at Truong Phu cable factory in northern Hai Duong province, outside Hanoi

Copper prices fell on Monday as the dollar hovered near its highest levels in months, making greenback-priced metals more expensive and less appealing to holders of other currencies.

Daily new coronavirus infections have been surging from the United States and Europe to Asia due to the spread of the Delta variant, making investors nervous about the global economic recovery and sending money into safety.

Three-month copper on the London Metal Exchange fell 0.5% to $9,380 a tonne by 0237 GMT, while the most-traded August copper contract on the Shanghai Futures Exchange declined 0.6% to 68,770 yuan a tonne.

About Author

Related posts