Copper futures settled down on Friday as mounting fears about the health of the US and global economy dented investors' risk appetite, while a rise in the US dollar also put pressure on copper prices. However, some losses were capped after China’s central bank announced a cut in main interest rates on house mortgages to support the second-largest economy.
Copper futures for July delivery lost $0.0080 to settle at $4.2750 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.07 percent at $9,422 a ton.