Copper futures settled lower on Wednesday as a stronger US dollar makes copper more expensive for buyers using other currencies. Meanwhile, ongoing concerns over US interest rate hikes and geopolitical uncertainties in the Middle East also adding more pressure on copper prices. However, some falls were limited by demand prospects for metals following latest stimulus measures in the world’s top metals consumer China.
Copper futures for December delivery lost $0.0330 to settle at $3.5910 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.24 percent at $8,032 a ton.