Copper futures ended lower on Thursday as the dollar strengthened following strong US labor market data, which helped expectations the US central bank will be more aggressive in taking steps to cool inflation. Data showed that weekly initial jobless claims fell to a seasonally adjusted 187,000 last week, the lowest level since September 1969. However, some losses were capped by concerns of supply shortages in European countries after Russia plans to require European countries to pay in Russian currency ‘roubles’ for gas purchases.
Copper futures for May delivery declined $0.034 to settle at $4.7425 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.85 percent at $10,349.50 a ton.