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Copper futures end lower on Fed decision

24 Sep 2021 Evaluate

Copper futures ended lower on Thursday after the US central bank (Fed) said it would begin tapering its stimulus programme as soon as November and complete the process by mid-2022. However, some losses were capped by improved risk appetite in line with Beijing’s injection of fresh cash into its financial system after China property giant Evergrande said it would make interest payments on an onshore bond.

Copper futures for December delivery fell $0.0210 to settle at $4.2310 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.13 percent at $9,273.50 a ton.