Copper futures settled down on Wednesday as strong US dollar makes copper more expensive for buyers holding other currencies. Moreover, weak economic data from China and Europe fuelled concerns about base-metal demand. Expectations of more interest rate hikes by Federal Reserve also dampened red metal prices.
Copper futures for December delivery lost $0.0625 to settle at $3.7860 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.36 percent at $8,371.50 a ton.