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Copper futures end higher on weak dollar

17 Dec 2020 Evaluate

Copper futures ended higher on Wednesday as weak dollar against its major peers makes dollar denominated commodities cheaper for holders of other currencies. Further, rollouts of Covid-19 vaccines in some major economies and optimism around strong demand from China too added support to copper prices’ uptrend.

Copper futures for March delivery gained $0.0145 to settle at $3.5590 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.69% at $7,836 a ton.