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Copper futures settle lower on rate hike worries

11 Apr 2023 Evaluate
Copper futures settled lower on Monday as positive US Jobs data fuelled expectations the US Federal Reserve would again rise interest rates at its meeting next month. Meanwhile, a stronger US dollar also dampened sentiments further.

Copper futures for May delivery lost $0.0390 to settle at $3.9765 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was up by 0.2 percent at $8,800 a ton.