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Copper futures settle down on demand worries

05 Jan 2023 Evaluate
Copper futures settled down on Wednesday as demand worries along with concerns over interest rate hikes and high inflation weighed on sentiments.  Meanwhile, surging Covid cases in the world’s top metal consumer China also dampened red metal prices. However, weakness in the US dollar capped further fall in copper prices.

Copper futures for March delivery lost $0.0260 to settle at $3.7405 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.84 percent at $8,252 a ton.