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Copper futures settle down on demand woes

19 Dec 2023 Evaluate

Copper futures settled down on Monday due to demand woes in the world’s top metal consumer China. Copper prices weakened further after top US central bank officials downplayed expectations of imminent interest rate cuts. However, some losses were capped by hopes of tighter supplies globally.

Copper futures for March delivery lost $0.0385 to settle at $3.8520 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.78 percent at $8,482.50 a ton.