Copper futures ended lower on Monday as the US dollar strengthened against its major peers as many countries closed their borders to Britain after Prime Minister Boris Johnson said that a variant of the virus up to 70% more infectious had been identified in the country. Though, some losses were capped after US Senate majority leader Mitch McConnell said a deal had been reached by congressional leaders on a roughly $900 billion Covid-19 relief package.
Copper futures for March delivery lost $0.0550 to settle at $3.5775 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 1.73% at $7,846.50 a ton.