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Copper futures settle lower on Monday

06 Jun 2023 Evaluate
Copper futures settled lower on Monday even after data showed that Chile’s copper output in April decreased by 1.1% year-on-year to 417,279 mt. Copper prices failed to get support by weak dollar with optimism that the US Fed will not hike interest rates this month.

Copper futures for July delivery declined $0.0405 to settle at $3.7680 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.19 percent at $8,335 a ton.