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Copper futures settle down on demand worries from China

25 May 2022 Evaluate

Copper futures settled down on Tuesday due to demand worries followed by increasing Covid-19 cases and lockdowns in the world’s top metal consumer China. Copper prices weakened further following the disappointing US housing data, although weakening US dollar limited losses in copper prices.

Copper futures for July delivery lost $0.0405 to settle at $4.3050 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.99 percent at $9,453.50 a ton.