Copper futures declined on Thursday even as weak dollar against other leading currencies after the US Federal Reserve signaled it was in no hurry to raise interest rates through all of 2023. Rising global inventories and demand worries from world’s top metal consumer China have added downward pressure on copper prices.
Copper futures for May delivery lost $0.0110 to settle at $4.1080 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.11% at $9,055.50 a ton.