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Copper futures trade lower on surging coronavirus concerns

26 Oct 2020 Evaluate

Copper futures traded lower on Monday as concerns over surging coronavirus cases in Europe and the United States sparked doubts over sustained economic recovery globally. Further, strong dollar and lack of progress toward a US stimulus package too put pressure on copper prices.

Copper futures for December delivery lost $0.0050 at $3.124 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.2% at $6,852 a ton.