Copper futures settled lower on Wednesday as the dollar strengthened against its major peers with expectations of further interest rate hikes in the United States. Red metal prices weakened further after Federal Reserve Bank of New York President John Williams said inflation is still at problematic levels and the US Fed will act to lower it.
Copper futures for May delivery lost $0.0145 to settle at $4.0770 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.52 percent at $8,965.50 a ton.