Copper futures ended lower on Wednesday due to concerns that slowing global economic growth and Covid-19 related lockdowns in China would hurt demand, while stronger dollar also adding pressure on red metal prices. Although, the world refined copper market showed a 25,000 tons deficit in March compared with a 95,000 tons surplus in February, the International Copper Study Group said.
Copper futures for July delivery lost $0.0505 to settle at $4.2545 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.85 percent at $9,373 a ton.