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Copper futures end higher on fears of supply shortages in European countries

24 Mar 2022 Evaluate

Copper futures ended higher on Wednesday, supported by fears of supply shortages in European countries after Russia plans to require European countries to pay in Russian currency ‘roubles’ for gas purchases. However, demand concerns from the world’s top metal consumer China due to resurging Covid infections capped further gains in copper prices.

Copper futures for May delivery rose $0.0765 to settle at $4.7765 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.66 percent at $10,438.50 a ton.