Copper futures settled down on Thursday on demand worries in the world’s top metals consumer after data showed prices of new homes in China declined the most in eight years last month. Moreover, weak American currency overseas and US Federal Reserve’s rate hike uncertainty also dampened red metal prices.
Copper futures for December delivery lost $0.0160 to settle at $3.7025 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.55 percent at $8,220 a ton.