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Base Metals Preview: Firm US dollar dampens sentiment for copper futures
20-May-2026 09:36

Firm dollar overseas and negative cues from equities are keeping copper futures under pressure in early Asian trades on Wednesday. Inflation concerns linked to the Iran conflict, weaker Chinese data and a firmer US Dollar (USD) weigh on industrial demand expectations. The major averages on Wall Street finished the day firmly in negative territory. The Nasdaq slid 220.02 points or 0.8 percent to 25,870.71, the S&P 500 fell 49.44 points or 0.7 percent to 7,353.61 and the Dow declined 322.24 points or 0.7 percent to 49,363.88. The red metal is currently trading at $6.17 per pound, down half a percent on the day. The counter however remains about 8% higher year-to-date.

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