Copper futures ended higher on Tuesday following concerns over supplies from the world’s top producer Chile. However, concerns over the spread of the Delta variant of the coronavirus pressurizing red metal prices. Strengthening US dollar also makes dollar-denominated metals more expensive for holders of other currencies and capped further gains in copper prices.
Copper futures for September delivery gained $0.0645 to settle at $4.3540 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.61 percent at $9,520.50 a ton.