Copper futures ended down on Monday as demand concerns fueled by rising Sino-US tensions and surging Covid-19 cases in the world’s top metal consumer China also dampened sentiment. Moreover, stronger US dollar made metals more expensive for holders of other currencies.
Copper futures for March delivery lost $0.1090 to settle at $3.5645 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 3.28% at $7,864.00 a ton.
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