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Copper futures settle lower on firm US dollar

16 Feb 2023 Evaluate
Copper futures settled lower on Wednesday on account of firm US dollar overnight along with expectations of longer rate hikes from the US Federal Reserve. Demand uncertainty from the world’s top metal consumer China also adding more pressure on red metal prices.

Copper futures for March delivery lost $0.0645 to settle at $4.0105 a pound on the comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.99 percent at $8,857.50 a ton.