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Copper futures settle down on stronger US dollar

07 Jun 2022 Evaluate

Copper futures settled down on Monday due to stronger US dollar which makes dollar-denominated metals more expensive for buyers using other currencies. Although, better demand prospects after an easing of Covid-19 lockdowns in the world’s top metal consumer China capped further fall in copper prices.

Copper futures for July delivery lost $0.0370 to settle at $4.4350 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was up 2.58 percent at $9,745 a ton.