Copper Prices Plummet on Stronger Dollar and Hawkish Fed Comments

Copper prices took a hit in recent trading, settling 1.24% lower at ₹1,372.4 due to a stronger US dollar and global bond selloff.

The market was also affected by hawkish comments from US Federal Reserve Chairman Kevin Warsh at the Jackson Hole symposium, who indicated that the Fed may need to raise interest rates if inflation remains above target.

This development added pressure on borrowing costs, economic growth, and metals demand, leading to a decline in copper prices.