Friday, June 20, 2025

Copper falls, iron or futures slump

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Copper prices fell on Monday as a stronger dollar made greenback-priced metals more expensive to holders of other currencies.

The dollar climbed against major peers, reaching a four-month high versus the euro, as traders positioned for an earlier tapering of Federal Reserve stimulus.

US employment data showing strong job gains, a sharp drop in the unemployment rate and a rise in wages last month is likely to push the Fed closer to paring its massive support for the economy.

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Three-month copper on the London Metal Exchange fell 0.1 percent to $9,458 a ton, while the most-traded September copper contract on the Shanghai Futures Exchange dipped 0.4 percent to 69,520 yuan ($10,738.34) a ton.

Dalian and Singapore iron ore futures slumped more than 5 percent, extending last week’s losses, pressured by prospects of improved supply and weakening Chinese demand.

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