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Copper futures settle lower on Monday

18 Apr 2023 Evaluate

Copper futures settled lower on Monday on account of strong US dollar along with expectations of a 25-basis-point rate hike by the U.S Federal Reserve in May. Although, narrowed inventory positions in LME warehouses followed by tight supply, limited further fall in copper prices.

Copper futures for May delivery lost $0.0405 to settle at $4.0660 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.65 percent at $ 8,964.50 a ton.