Copper futures ended lower on Friday as the US Federal Reserve and other major central banks raised policy rates and indicated further rate hikes ahead, fuelled fears of a global recession. Moreover, surging Covid-19 cases in the world’s top metal consumer China also weighed on red metal prices.
Copper futures for March delivery lost $0.0015 to settle at $3.7615 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.33 percent at $8,266.50 a ton.