Commodities

Copper tries to regain ground after last week's losses

2022-09-26 14:26:32 GMT (Economies.com)

Copper prices rose on Monday even as dollar gained ground against major rivals, with the industrial metal attempting to recoup some of last week's heavy losses. 

 

Copper marked two-month lows last week before recouping in the subsequent session.

 

The losses came after the Federal Reserve and other major central banks moved to tighten their monetary policies and hike interest rates aggressively. 

 

Such decisions triggered concerns about a global recession which might impact demand on copper and other metals. 

 

The dollar index rose 0.2% to 113.4 as of 13:39 GMT, with a session-high at 114.5, and a low at 112.9. 

 

Copper futures due in December climbed 0.5% as of 14:19 GMT to $3.35 a pound. 

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