Skip to main content

MoneyWorks4Me

Copper futures settled lower on firm dollar

07 Feb 2023 Evaluate
Copper futures settled lower on Monday due to firm dollar after Friday's strong jobs report in the United States suggested the Fed could stay hawkish with its monetary policy for longer. Moreover, uncertainty over China's demand growth for industrial metals also adding more pressure on copper prices. However, supply disruptions from major producers in Latin America and Africa capped steeper declines in copper prices.

Copper futures for March delivery lost $0.0215 to settle at $4.035 a pound on the comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.21 percent at $8,871.50 a ton.