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Copper futures finish lower on demand concerns

30 Oct 2020 Evaluate

Copper futures ended lower on Thursday on demand concerns due to surging corona virus infections worldwide and ahead of US presidential election. Besides, diminishing hopes of imminent fiscal stimulus and fresh lockdown in several European countries too added pressure on commodity prices. Moreover, firmness in the dollar against its major peers makes metals costlier for buyers outside the United States.

Copper futures for December delivery fell $0.0075 to settle at $3.0565 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.27% at $6,729.50 a ton.