Skip to main content

MoneyWorks4Me

Copper futures end lower on profit booking

23 Oct 2021 Evaluate

Copper futures ended lower on Friday on account of profit booking from its recent highs and as investors eyed on the timeline of Fed’s tapering bond purchases and interest rate hike. However, weakness in US dollar against its peers, makes copper cheaper for holders of other currencies.

Copper futures for December delivery lost $0.0605 to settle at $4.4980 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 1.3 percent at $9,704 a ton.