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Copper futures settle lower on strong dollar

26 Mar 2022 Evaluate

Copper futures settled lower on Friday as the latest strong economic data in the US reinforced market expectations the Federal Reserve will be more aggressive in its tightening cycle. Strong US dollar also added pressure on red metal prices. Meanwhile, copper demand from China is still affected by the spreading Covid infections.

Copper futures for May delivery declined $0.0440 to settle at $4.6985 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.8 percent at $10,267 a ton.