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Copper futures settle lower on demand concerns

02 Feb 2023 Evaluate
Copper futures settled lower on Wednesday amid concerns about demand from the world’s top metal consumer China, after data showed its Caixin/S&P Global manufacturing purchasing managers' index (PMI) came in weaker than expected at 49.2 in January. Although, a weaker US dollar makes copper cheaper for investors holding other currencies. 

Copper futures for March delivery lost $0.115 to settle at $4.111 a pound on the comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.47 percent at $9,087 a ton.