Copper futures ended lower on Tuesday, driven by stronger US dollar which making dollar-denominated copper more expensive for buyers using other currencies. Further, lingering demand worries following prospects of aggressive interest rate hikes by the US Federal Reserve, the continuing war in Ukraine and Covid-19 lockdowns in the top consumer China also weighed on red metal prices.
Copper futures for May delivery fell $0.0080 to settle at $4.4410 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.93 percent at $9,860 a ton.