Copper futures settled lower on Wednesday as investors cautious ahead of US Federal Reserve’s officials meet next week with expectations that Federal Reserve will raise interest rates by 0.25%. Meanwhile, investors are waiting for the February’s consumer price index, which is expected to hit a new 40-year high of 7.8%.
Copper futures for May delivery fell $0.1375 to settle at $4.5725 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 2.03 percent at $10,001.50 a ton.