Copper Prices Plummet Amid Hawkish Fed Outlook and Stronger Dollar

Copper prices have taken a hit due to the strong US dollar and rising Treasury yields, which are expected to continue driving up interest rates to combat inflation.

This has weighed on copper prices, with futures falling to around $6.66 per pound on Friday - a one-week low.

The stronger dollar is making copper more expensive for importers, while higher borrowing costs could eventually slow global economic growth and weigh on demand for industrial metals.

However, persistent supply risks are still supporting copper prices.