Copper futures settled lower on Thursday tracking renewed strength in the US dollar, while concerns over slowdown in demand and lack of fresh stimulus in the world’s top metal consumer China also pressurizing red metal prices. However, lower supplies and falling inventories in exchange warehouses have limited further fall in copper prices.
Copper futures for September delivery lost $0.0435 to settle at $3.699 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.94 percent at $8,177.50 a ton.