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Copper futures settle lower on muted demand

12 Feb 2021 Evaluate

Copper futures ended lower on Thursday on the back of muted demand amid week-long Lunar New Year holidays in top Consumer China. However, weakness in US dollar as well as falling copper inventories in Comex and LME warehouses have capped some losses in copper rates.

Copper futures for March delivery lost $0.0010 to settle at $3.7715 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.23% at $8,280.50 a ton.

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