Copper futures settled down on Friday as the US currency rebounded against major currencies after the Federal Reserve Bank of New York President John Williams pushed back against the market’s interest rate cut expectations next year, reiterating that the Fed remains focused on bringing inflation down to its 2% target. However, some losses were limited by expectations of further stimulus measures to shore up the Chinese economy.
Copper futures for March delivery lost $0.0020 to settle at $3.8905 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.03 percent at $8,549 a ton.