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Copper prices slide after Fed's growth warning triggers sell-off

Benchmark copper on the London Metal Exchange (LME) was down 3.5% at $7,875 a tonne by 1603 GMT, having touched its lowest since Aug. 8 at $7,846.

Photo: Bloomberg
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Photo: Bloomberg

Reuters LONDON
Copper prices fell to their lowest in more than two weeks on Monday after U.S. central bank chief Jerome Powell warned of a painful period of slow economic growth and as COVID-19 restrictions in top consumer China hit sentiment.
 
Benchmark copper on the London Metal Exchange (LME) was down 3.5% at $7,875 a tonne by 1603 GMT, having touched its lowest since Aug. 8 at $7,846.
 
The U.S. Federal Reserve is expected to raise interest rates by 75 basis points for a third consecutive policy meeting in September as it seeks to combat inflation. Powell also said the Fed will

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First Published: Aug 30 2022 | 10:20 PM IST

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