Copper futures settled lower on Friday due to concerns over rising inflation. Most investors are expecting interest rate hike of around 50 bp in March to subdue inflation too adding pressure on copper prices. Moreover, weak demand outlook for the red metal from world’s top consumer China also weighed on copper prices.
Copper futures for March delivery fell $0.0585 to settle at $4.5240 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.49 percent at $9,941 a ton.