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Copper futures end higher as dollar weakens

19 May 2021 Evaluate

Copper futures ended higher on Tuesday as the US dollar weakened against its major peers on expectations that the United States will not hike interest rates anytime soon. Moreover, concerns on strikes at copper mines in Chile, the world’s top copper producer also boosted copper prices’ uptrend.

Copper futures for July delivery gained $0.0140 to settle at $4.7255 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.31 percent at $10,405 a ton.