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Copper futures settle lower on US-China tensions

03 Aug 2022 Evaluate
Copper futures settled lower on Tuesday driven by some selling pressure on escalating tensions between United States and China. Further, a stronger US dollar following comments from Fed officials hinting at more interest rate hikes to cool down inflation, also weighed on copper prices.

Copper futures for September delivery lost $0.0240 to settle at $3.5185 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.17 percent at $7,806.50 a ton.