Copper futures settled lower on Wednesday as the US dollar strengthened overnight after the Federal Reserve’s March meeting minutes showed many participants prepared to raise interest rates in 50-basis-point to cool off inflation. Further, concerns over more sanctions on Russia also adding pressure on red metal prices.
Copper futures for May delivery fell $0.0570 to settle at $4.7380 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 1.43 percent at $10,305 a ton.