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22-Sep2016

Copper futures end down on profit taking

Copper futures ended lower on Wednesday as profit-taking pulled the commodity from its four-week highs before a key US Federal Reserve policy meeting. The US central bank was widely expected to hold interest rates unchanged at 0.25 percent to 0.50 percent. However, some losses were capped by the improved demand signals following the release of better than expected economic data from world's largest consumer of industrial metal, China.

Copper futures for December delivery fell 0.5 percent to settle at $2.155 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended down 0.6 percent to $4,763 a metric ton.


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