Copper futures settled down on Friday, weighed down by a surge in US government bond yields to 5 percent for the first time since 2007. Moreover, uncertainties over US interest rates, lack of additional stimulus from the world’s top metal consumer China and geopolitical tensions have also adding more pressure on copper prices.
Copper futures for December delivery lost $0.0380 to settle at $3.5630 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.56 percent at $7,948.50 a ton.