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Copper futures trade lower on strong dollar

18 Jan 2022 Evaluate

Copper futures traded lower on Tuesday as a strong US dollar made dollar-denominated metal less attractive for holders of other currencies, while economic data from world’s top metal consumer China also suggested slowing demand for industrial metals. Moreover, rise in inventories in London Metal Exchange-registered warehouses also weighed on metal prices globally.

Copper futures for March delivery fell $0.0105 or 0.24% at $4.4100 a pound on the Comex metals division of New York Mercantile Exchange.