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Copper futures settle down on firm US dollar

17 Aug 2023 Evaluate

Copper futures settled lower on Wednesday, impacted by firm US dollar and renewed concerns over rising US interest rates. Moreover, disappointing China’s economic data and lack of strong stimulus measures also dampened red metal prices. 

Copper futures for September delivery lost $0.01 to settle at $3.6575 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.40 percent at $8,167 a ton.