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Copper futures end lower as dollar strengthens

22 Dec 2020 Evaluate

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.

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