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Copper futures settle down on profit booking

17 Jun 2023 Evaluate
Copper futures settled lower on Friday due to profit booking following a set of disappointing economic data from the world’s top metal consumer China. Additionally, firm US dollar also weighed down copper prices. However, some losses were capped with growing expectations that China would unveil more measures to shore up its economy.

Copper futures for July delivery lost $0.0120 to settle at $3.8890 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was up by 0.10 percent at $8,566.50 a ton.