Copper futures ended lower on Tuesday, amid concerns that China, the world’s largest industrial metals consumer might reduce their buying after the news regarding the China’s central bank asked the nation’s major lenders to curtail loan growth for the rest of this year. Further, tighter lockdown restrictions due to surging corona virus cases globally also weighed on the red metal prices.
Copper futures for May delivery lost $0.0210 to settle at $4.1165 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 2.92% at $9,047.00 a ton.