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23-Mar2019

Copper futures end lower on global growth concerns

Copper futures ended lower on Friday as weak European and US factory data spread gloom about the global economic outlook and strengthened the dollar. Reports showing Factory activity in the 19-country euro zone contracted at the fastest pace in nearly six years. A measure of US manufacturing was its weakest since June 2017 while forecasters at the Federal Reserve Bank of Philadelphia slashed their estimate for economic growth in early 2019.

Copper futures for May delivery fell 2.2 percent to settle at $2.843 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange closed down 1.7 percent at $6,312 a tonne.


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