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Copper futures settle lower on Monday

15 Nov 2022 Evaluate
Copper futures settled lower on Monday as surging Covid-19 cases in major importer China fuelled demand worries. Copper prices also weakened further after US Federal Reserve Governor Christopher Waller warned that the central bank was not softening its fight against inflation. Meanwhile, a stronger US dollar also make dollar-priced metals more expensive to holders of other currencies.

Copper futures for December delivery lost $0.08 to settle at $3.8335 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 1.38 percent at $8,375 a ton.