Copper futures ended lower as the US dollar strengthened after stronger-than-expected US data, which could keep interest rates elevated for longer than expected to tame inflation. Although, some losses were capped by growing hopes that demand would rebound in the world’s top metal consumer China after more cities eased Covid-19 restrictions.
Copper futures for March delivery lost $0.0555 to settle at $3.7950 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.7 percent at $8,391 a ton.