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Copper futures settle down on demand concerns

26 Apr 2023 Evaluate
Copper futures settled down on Tuesday due to concerns over demand following an uneven economic recovery in the world’s top metal consumer China.  Moreover, rising exchange warehouse inventories also weighed on copper prices. Meanwhile, investors also remained cautious ahead of next week's US Federal Reserve meeting on interest rates.

Copper futures for May delivery lost $0.1060 to settle at $3.8480 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 2.32 percent at $8,528 a ton.