Copper futures end lower on Tuesday

Copper futures ended lower on Tuesday as global equities slumped after the International Monetary Fund (IMF) on Monday warned of a darkening growth outlook. In its World Economic Outlook report, the IMF predicted the global economy would grow at 3.5% in 2019 and 3.6% in 2020, down 0.2 and 0.1 percentage point, respectively from last October’s forecasts.

Copper futures for March delivery fell 2.2 percent to settle at $2.66 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange ended down 0.8 percent at $5,935 a tonne.

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