Copper prices futures ended lower on Wednesday as rising inventories in Asian warehouses fuelled fears about weaker demand ahead in top consumer China. Reports showed stocks of copper in LME-approved warehouses have risen by a quarter, more than 50,000 tonnes, since August 11 to 254,700 tons, with much of the build occurring in South Korea and Singapore. Further, a stronger dollar, eroding the purchasing power of commodity buyers outside the United States, and a slide in oil prices also pressured industrial metals prices.
Copper futures for December delivery declined 1.9% to settle at $2.085 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended down 1.7 percent to $4,632 a metric ton.