Copper futures settled lower on Tuesday due to market uncertainty over upcoming minutes of the US Federal Reserve’s December meeting. Moreover, a massive surge in Covid in China and fears of a global recession fuelled demand concerns for copper and thereby pushing prices lower.
Copper futures for March delivery lost $0.0440 to settle at $3.7665 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.60 percent at $8,321.50 a ton.