Copper futures ended lower on Wednesday on weak demand outlook for the metal after the data showed slowing economic growth from world’s biggest metals consumer, China. The Chinses factory output grew faster than expected in November, but investment growth slowed. While, the US Fed Reserve announced faster pace of tapering asset from mid-January 2022 and also signalled three interest rate hikes in 2022.
Copper futures for March delivery fell $0.0750 to settle at $4.2450 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 2.26 percent at $9,199.50 a ton.