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.