Copper futures ended lower on Friday, triggered by market fears over global economic recession as many countries’ central banks gave signals of more policy tightening ahead in a bid to tame inflationary pressure. Meanwhile, a stronger dollar also makes dollar-denominated metals more expensive for buyers using other currencies. Although, some losses were capped by prospect of a strike in the world’s biggest producer Chile.
Copper futures for July delivery lost $0.0945 to settle at $4.0135 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 1.25 percent at $8,961.50 a ton.