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Copper futures settle down ahead of Chinese inflation data

11 May 2023 Evaluate
Copper futures settled lower on Wednesday ahead of Chinese inflation data due later on Thursday. Meanwhile, data showed that China's imports sank more than expected through April indicating demand from the world’s largest copper importer remained weak. However, lower than expected US inflation data suggested the US Federal Reserve will pause its interest rate hike cycle.

Copper futures for July delivery lost $0.0605 to settle at $3.8410 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.36 percent at $8,475 a ton.