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Copper futures settle down on Chinese demand concerns

18 Jul 2023 Evaluate
Copper futures settled lower on Monday due to concerns over demand from the world’s top metal consumer China following disappointing growth data in the second quarter. However, a weaker US dollar makes dollar- denominated metals cheaper to holders of other currencies.

Copper futures for September delivery lost $0.0890 to settle at $3.8440 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 2.10 percent at $8,491 a ton.