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Copper deepens losses on stronger dollar
Copper prices fell on Wednesday, weighed down by the rising US dollar, which makes dollar-denominated commodities more expensive to other currencies holders.
Copper 3-month futures contracts at London Metal Exchange fell 1.1% to $6,702.5 per tonne, and in Shanghai Futures Exchange it fell by 0.6% to 51,430 yuan ($7,471.8).
The dollar index rose against a basket of currencies by 0.2% to 94.2 points as of 15:08 GMT, after it hit a high of 94.2 and a low of 93.9.
Analysts fear that global demand for commodities and metals will take further damage from the possibility of a second coronavirus wave hitting several European countries, especially the UK.
Copper December futures fell 2% to $2.99 per pound as of 15:04 GMT, after hitting a session-high of $3.07 and a low of $2.99.
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