Copper futures settled down on Friday amid firm US dollar against key rivals, despite expectation that the US Federal Reserve would cut interest rates from March next year. However, some losses were capped by the move of China’s smelters to lower their first-quarter copper guidance price as supply outlook tightens.
Copper futures for March delivery lost $0.0340 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 0.76 percent at $8,559 a ton.