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Copper futures settle down on strong dollar

06 Jul 2023 Evaluate

Copper futures settled lower on Wednesday as the US dollar strengthened against its major peers, and after the release of FOMC meeting minutes showed more tightening is expected on the way. Copper prices weakened further by weak global services activity data that dampened demand outlook for metal. 

Copper futures for September delivery lost $0.0255 to settle at $3.7685 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.48 percent at $8,319 a ton.