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Copper futures settle down on weak demand

05 Aug 2023 Evaluate

Copper futures settled down on Friday due to concerns over weak demand in the world’s top metals consumer, even as China said it would implement more measures to boost consumer spending and improve local liquidity. However, a weaker US dollar made copper cheaper for those holding other currencies.

Copper futures for September delivery lost $0.0320 to settle at $3.8675 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.44 percent at $8,573 a ton.