Copper futures settled down on Monday due to lower demand following concerns of rising interest rates in the United States. Meanwhile, uneven economic recovery in the world’s top metal consumer China also weighed on red metal prices. Although, a weaker US dollar limited further fall in copper prices.
Copper futures for May delivery lost $0.0260 to settle at $3.9540 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.73 percent at $8,730.50 a ton.