Copper futures end lower on Tuesday
Copper futures ended lower on Tuesday as hopes for a ceasefire in the US-Israel-Iran conflict dimmed after Iran denied holding talks with the United States to end the war in the Middle East. Copper prices also declined as a strengthened US dollar made the metal more expensive for international buyers using foreign currencies, reducing demand. Moreover, surging inventories on the LME also putting downward pressure on copper prices.
Copper futures for May delivery fell $0.0175 to settle at $5.4550 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.55% at $12,100.50 a ton.
