Copper Prices Tumble to $6.66/lb Amid Dollar Strength

Copper prices have taken a hit, plummeting to $6.66 per pound on Friday as the US dollar strengthened and Treasury yields rose.

The decline in copper futures was partly driven by expectations that the Federal Reserve will continue raising interest rates to combat inflation, which could eventually slow global economic growth and weigh on demand for industrial metals.

However, copper has retained some support due to ongoing supply risks. Union workers at Escondida, the world's largest copper mine in Chile, have called a strike after rejecting a wage offer.