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.