Copper futures ended lower on Tuesday ahead of outcome of the US central bank’s policy meet for cues on how soon the Fed would start hiking interest rates. Further, concerns over the impact of the Omicron variant of corona-virus and rising inventories also adding more pressure on copper prices. Meanwhile, stronger US dollar also makes dollar-denominated copper more expensive for traders using other currencies.
Copper futures for March delivery fell $0.0265 to settle at $4.2575 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.38 percent at $9,412 a ton.