Copper futures settled down on Thursday, as weak inflation data from world’s biggest metals consumer China dulled demand prospects for the red metal. Official figures showed that the consumer-price index rose 0.1% in April year-on-year, the lowest rate since February 2021, and slowing from a 0.7% rise in March. Meanwhile, a stronger US dollar also dampened sentiments further.
Copper futures for July delivery lost $0.1310 to settle at $3.7100 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 3.68 percent at $8,163.50 a ton.