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Copper Settled Flat Due To A Strong Dollar And Muted Demand.
Copper prices eked out a marginal gain of 0.01%, settling at 713.35, amidst persistent dollar strength and subdued demand.
The Federal Reserve’s resistance to market expectations of multiple rate cuts in the face of ongoing inflationary pressures contributed to a stronger US dollar, impacting copper benchmarks priced in the currency and squeezing the purchasing power of importers.
China, a major player in the copper market, saw slower-than-expected growth figures, further dampening the outlook as the country refrains from implementing additional stimulus measures.
