Copper futures settled lower on Wednesday due to growing worries over spiking corona virus infections driven by a new variant of the virus. Though, US dollar slumped to its lowest in more than two years, that making dollar denominated metals cheaper for buyers using other currencies.
Copper futures for March delivery lost $0.0065 to settle at $3.5490 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.15% at $7,847.50 a ton.