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Copper futures settle down on firm American currency

22 Sep 2023 Evaluate
Copper futures settled lower on Thursday tracking firm American currency at overseas markets after the US Federal Reserve signalled another interest rate hike this year and tighter monetary conditions through 2024. Moreover, concerns over surging exchange inventories also weighed down copper prices.

Copper futures for December delivery lost $0.08 to settle at $3.6960 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.82 percent at $8,194 a ton.