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Copper futures settle lower on demand concerns, strong dollar

07 Jul 2022 Evaluate
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.