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https://wa.me/7037171600Copper Muted on China COVID Woes, Gold Heads for Weekly Loss
Copper prices were flat on Friday as markets weighed signs of tightening supply against concerns over slowing demand after China, the world’s largest copper importer, dismissed speculation that it planned to scale back COVID restrictions.
Hawkish moves by the Federal Reserve put metal markets on course to end the week lower, as the dollar strengthened.China’s health agency on Thursday reiterated its commitment to the zero-COVID policy, dismissing recent speculation that the country will lift the policy by March 2023. The comments also come amid rising infections in the country, which has invited renewed movement curbs in several major cities.
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