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Copper futures settle down as dollar strengthens

23 Nov 2023 Evaluate

Copper futures settled down on Wednesday, as the US dollar strengthened against its major peers after the Federal Reserve's minutes signalled that interest rates would remain restrictive for some time. Meanwhile, profit booking ahead of the U.S. Thanksgiving holiday and renewed economic concerns also dampened red metal prices. 

Copper futures for December delivery lost $0.0495 to settle at $3.7630 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.13 percent at $8353.50 a ton.


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