Skip to main content

MoneyWorks4Me

Copper futures settle lower on Friday

26 Jun 2021 Evaluate

Copper futures ended lower on Friday as US dollar unchanged against its rivals, even after US inflation data missed estimates. Although, some losses were limited after Biden and a group of senators from both democratic and republican parties reached a preliminary agreement on the $579 billion budget for infrastructure construction which raised expectations of better demand for copper in the coming years.

Copper futures for July delivery lost $0.0190 to settle at $4.2920 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.06 percent at $9,413.50 a ton.