Skip to main content

MoneyWorks4Me

Copper futures settle lower on Thursday

04 Nov 2022 Evaluate
Copper futures settled lower on Thursday due to demand concerns after China dismissed recent speculation that the country planned to scale back covid related restrictions. Further, hawkish moves by the US Federal Reserve also adding more pressure on commodity prices.

Copper futures for December delivery lost $0.0415 to settle at $3.4270 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.86 percent at $7,561 a ton.