Copper futures ended lower on Wednesday, driven by a stronger US dollar which makes dollar-priced copper less attractive to global buyers. Further, concerns about weak demand from world’s top metal consumer China too adding some pressure on copper prices. However, supply threats from a looming election in Peru and strikes at BHP’s Escondida and Spence mines and Vale’s Sudbury mine have supporting prices and capped further fall in prices.
Copper futures for July delivery fell $0.0620 to settle at $4.5915 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.95 percent at $10,147.50 a ton.