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Copper futures end lower on year-end profit-taking

30 Dec 2021 Evaluate

Copper futures ended lower on Wednesday due to profit-taking as approaching the year-end with sluggish transactions in the market. Further, concerns over spreading Covid-19 variant Omicron across the world too weighed on the sentiments. However, falling US dollar index and surging oil prices capped further losses in copper prices.

Copper futures for March delivery fell $0.0200 to settle at $4.4130 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was up 1.18 percent at $9,680.50 a ton.