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Copper futures settle lower on demand fears

31 Dec 2022 Evaluate
Copper futures settled lower on Friday due to demand fears stemmed from surging Covid cases in world’s top metal consumer China, while concerns over a potential recession and rising inventories also weighed on investor sentiments.

Copper futures for March delivery fell $0.0135 to settle at $3.8105 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.55 percent at $8,372 a ton.