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Copper futures settle down on Friday

22 Jul 2023 Evaluate

Copper futures settled lower on Friday, driven by disappointment on modest stimulus measures in China. Moreover, firm dollar overseas and forecasts of rising supply also added more pressure on red metal prices. Meanwhile, investors were cautiously awaiting on the US Federal Reserve’s interest rate decision next week.

Copper futures for September delivery lost $0.0165 to settle at $3.8180 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.39 percent at $8,452 a ton.