Copper prices hover near 17-month low as slowdown fears mount

London copper prices hovered near a 17-month low on Monday, as soaring inflation and tepid factory data renewed fears of aggressive rate hikes and global economic slowdown, hitting demand for metals.

Three-month copper on the London Metal Exchange held its ground at $8,040 a tonne, as of 0227 GMT, after hitting its lowest since February 2021 at $7,955 on Friday.

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