A weaker U.S. dollar in recent days has also helped metals, which are priced in the greenback, by making them cheaper for buyers with other currencies.
Rising US interest rates have pushed the dollar to its strongest in two decades, making dollar-priced metals costlier for non-US buyers and potentially dampening demand
Benchmark copper on the London Metal Exchange (LME) was down 3% at $7,573 a tonne at 1601 GMT.
Benchmark copper on the London Metal Exchange (LME) was down 0.8% at $7,982 a tonne at 1602 GMT
Fed is expected to deliver another 75-basis-point interest rate hike in July, followed by a half-percentage-point rise in September
Three-month aluminium on the London Metal Exchange (LME) slid 2.8% to $2,685 a tonne by 1400 GMT after touching the lowest since December last year
The price of copper wire bars averaged Rs 738 per kg (ex-factory) in FY22, a 42 per cent rise year-on-year, with rates breaching Rs 800 per kg in March before retreating to Rs 790 per kg
Power shortages are forcing output cuts from China to Europe
Asian shares advanced warmed by the embers of a strong day on Wall Street, which supported risk-friendly currencies and hurt the safe-haven yen.
There are no reversal patterns on chart and support comes around 268 for natural gas
This is in connection to rising prices of raw materials such as steel, iron ore, aluminum, copper, plastics and paper.
Copper sinks as inflation fears eclipse South American political risk
Copper remains a favorite long wager in the commodities complex
With the past three days' rally, the market price of HCL appreciated by 58 per cent over its QIP issue price of Rs 119.60 per share
The reddish brown metal is mostly unrivaled as an electrical and thermal conductor
Yet, while the biggest miners are universally bullish on the outlook for copper, there are few new projects on the horizon, constraining future supply.
Copper, a bellwether for the global economy, rose as much as 2.4% to $9,780 per tonne in London
The 2020s are expected to be the strongest phase of volume growth in global copper demand in history: report
Hawks say that pockets of inflation today will turn into across-the-board price increases tomorrow, with stimulus providing the fuel
Durables makers hike prices to offset input costs