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Copper futures settle lower on demand concerns

26 Apr 2022 Evaluate

Copper futures settled lower on Monday as Covid-19 lockdowns in the world’s largest metals user and the continuing war in Ukraine prompted fears of a slowdown in demand. Moreover, strengthening US dollar with an aggressive pace of US interest rate hikes added pressure on red metal prices.

Copper futures for May delivery fell $0.1325 to settle at $4.4490 a pound on the Comex metals division of New York Mercantile Exchange.