Copper futures settled lower on Friday as the US Federal governor Brainard indicated an early interest rate hike in March amid increasing inflation pressures, who has been recognised one of the most dovish Federal officers before. Further, Benchmark US10-year Treasury yields firmed and the US dollar rose against its peers, making copper costlier for buyers using other currencies. But, tight supplies in the market supporting the copper prices.
Copper futures for March delivery declined $0.1255 to settle at $4.4205 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 2.4 percent at $9,719.50 a ton.