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Copper futures end lower on profit booking

08 Dec 2020 Evaluate

Copper futures ended lower on Monday due to profit booking, despite optimism around stimulus measures from United States and Covid-19 vaccines rollouts. Further, a rising US dollar also makes dollar-denominated metals more expensive for holders of other currencies.

Copper futures for March delivery lost $0.0080 to settle at $3.5165 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.65% at $7,710 a ton.