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Copper futures end higher on Wednesday

17 Jun 2021 Evaluate

Copper futures ended higher on Wednesday as the US Federal Reserve brought forward its projections for an interest-rate hikes into 2023. Copper prices, however, pressured after the world’s top metals consumer China confirmed rumours it would liquidate some of its stockpiles. Firm US dollar also capped further gains in copper prices.

Copper futures for July delivery gained $0.0520 to settle at $4.3850 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.02 percent at $9,667 a ton.