Copper falls despite US stimulus hopes

Copper prices fell on Thursday, as the US dollar rallied against most major currencies, despite hopes about the US fiscal stimulus.

Reuters reported quoting informed sources that the US Congress will discuss President Joe Biden's Covid relief plan of $1.9 trillion.

Analysts projected that the rising sales of consumer appliances such as refrigerators, air conditioners and cars will lift global demand for copper.

The Chinese central bank officials agreed to continue injecting liquidity reasonably into the market, which eases concerns about the money supply in the economy.

The dollar index rose against a basket of major currencies by 0.2% to 91.3 points as of 14:27 GMT, after hitting a high of 91.4 points and a low of 91.09 points.

Copper March futures fell 0.4% to $3.54 per pound as of 14:22 GMT, after hitting a high of $3.58 and a low of $3.54.