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Copper futures settle down on recovery in US dollar

15 Jul 2023 Evaluate
Copper futures settled down on Friday due to a small recovery in the US dollar, despite hopes that the US Federal Reserve would soon end its interest-rate hike cycle amid softening inflation. Moreover, concerns over tepid demand and a lack of fresh stimulus in the world’s top metal consumer China also weighed on copper prices.

Copper futures for September delivery lost $0.0070 to settle at $3.9330 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.24 percent at $8,673.50 a ton.