Copper futures end marginally lower as dollar strengthens

Copper futures ended marginally lower on Wednesday as US dollar strengthened against a basket of major currencies due to strong economic data earlier this week, pressuring metals by making them more expensive for buyers with other currencies. 

 

Though, some losses were capped as China’s central bank lowered the interest rate on 14-day reverse repurchase agreements, in step with a similar cut in the 7-day repo rate last month, as part of an effort to stimulate growth in the world's top metal consumer.

Copper futures for March delivery lost 0.04 percent to settle at $2.8125 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.5 percent at $6,172 a ton.

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