Copper futures settled lower on Thursday as concerns over a potential recession raised demand fears for industrial metals. Moreover, surging Covid infections in world’s top metal consumer China weighed on red metal prices.
Copper futures for March delivery fell $0.0185 to settle at $3.8240 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.30 percent at $8,418 a ton.