Copper prices are falling amid concerns over epidemic restrictions in Europe and the Fed

At Comex in New York, copper loses 0.80 percent. to $ 4.3610 per pound.

Investors are concerned about the decline in demand for copper and other industrial metals due to the deteriorating health situation, including in Europe.

Austrian Chancellor Alexander Schallenberg announced on Friday that a nationwide lockdown will begin on Monday, which will last at least until December 12 and may be extended. In addition, it was announced that vaccination against COVID-19 will be mandatory from February 2022.

The serious epidemic is also struggling with, among others, Germany.

Meanwhile, there are signs that the US Federal Reserve may consider a faster withdrawal of support programs for the US economy, including limiting government bond purchases.

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Three US central bank policymakers – Richard Clarida, Christopher Waller and James Bullard – signaled last week that the topic of faster reduction in bond purchases may appear at the meeting of the Open Market Committee (FOMC) on December 14-15.

At the end of the previous session, copper on the LME gained 205 USD. up to $ 9,646.00 per ton.

In May 2021, a ton of copper on the LME cost a record $ 10,747.50.


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About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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