Copper futures ended lower on Thursday as prospect of the US Federal Reserve scaling back its pandemic stimulus measures sooner rather than later boosted the US dollar, which making dollar-denominated metals more expensive for holders of other currencies. Further, power constraints in the world’s top metal consumer China also adding some pressure on base metal prices. However, falling stockpiles supported copper prices and capped its fall.
Copper futures for December delivery fell $0.11 to settle at $4.0890 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 2.39 percent at $8,936.50 a ton.