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Copper futures settle down on strong dollar

27 Oct 2023 Evaluate

Copper futures settled down on Thursday tracking renewed strength in the US dollar, while fears of more US interest-rate hikes and rising exchange inventories also pressurized red metal prices. However, expectations of stimulus to boost growth and demand in the world’s second largest economy China limited further fall in copper prices.

Copper futures for December delivery declined $0.0065 to settle at $3.5845 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.58 percent at $ 7,985.50 a ton.