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Copper futures settle lower as dollar strengthens

17 Nov 2021 Evaluate

Copper futures settled lower on Tuesday as the dollar strengthened, held near a 16-month high, ahead of US retail sales data. Further, concerns about the property markets in the world’s top metal consumer China, also adding pressure on copper prices. However, positive developments from virtual meeting between US President Joe Biden and Chinese leader Xi Jinping, capped further fall in red metal prices.

Copper futures for December delivery fell $0.0485 to settle at $4.3515 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 1.16 percent at $9,561 a ton.