Commodities

Copper falls on concerns over China's measures to curb prices

2021-06-10 16:07:55 GMT (Economies.com)

Copper prices fell on Friday, as the US dollar rose against most majors, amid concerns about the Chinese government's measures to curb prices.

 

3-month copper futures in the London Metal Exchange fell 0.6% to $9,920 per ton.

 

The Chinese government renewed its pledge to impose measures to curb price increases on commodities such as copper, especially as prices inflation of local producers rose to more than a 12-year peak.

 

The dollar index rose against a basket of major currencies by 0.2% to 90.2 points as of 13:44 GMT, after hitting a high of 90.3 points and a low of 90.02 points.

 

Copper July futures fell 1.3% to $4.47 per pound as of 13:36 GMT, after hitting a high of $4.53 and a low of $4.44.

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