Copper futures settled lower on Wednesday amid demand concerns following heightened fears of a global recession and renewed lockdowns in world’s top consumer China. Strong US dollar index also weighed on red metal prices.
Copper futures for September delivery lost $0.007 to settle at $3.408 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 1.95 percent at $7,520.50 a ton.