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Copper futures settle lower on fed uncertainty

04 Jan 2023 Evaluate
Copper futures settled lower on Tuesday due to market uncertainty over upcoming minutes of the US Federal Reserve’s December meeting. Moreover, a massive surge in Covid in China and fears of a global recession fuelled demand concerns for copper and thereby pushing prices lower.

Copper futures for March delivery lost $0.0440 to settle at $3.7665 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.60 percent at $8,321.50 a ton.

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