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Copper futures trade down on stronger dollar

02 Dec 2024 Evaluate
Copper futures were trading down on Monday as the dollar strengthened after the US President-elect Donald Trump threatened 100% tariffs on BRICS exports if they try to replace the US dollar in global trade. A stronger dollar made copper more expensive for buyers in other currencies. Meanwhile investors are awaiting key US data due on Friday that may offer cues on the Federal Reserve’s next interest-rate move later this month. Moreover, fears over an escalation in Russia’s war on Ukraine has also weighed on red metal prices. 

Copper futures for March delivery fell $0.0245 or 0.59% at $4.1155 a pound on the Comex metals division of New York Mercantile Exchange.

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