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Copper futures settle down on weak Chinese data

04 Jan 2024 Evaluate
Copper futures settled down on Wednesday as weak data from China's industrial sector fuelled concerns over demand in the world’s top meal consumer, while firm American currency also makes dollar-priced metals more expensive for buyers using other currencies. Moreover, uncertainty over US Federal Reserve’s interest rate cut timings also dampened sentiments.

Copper futures for March delivery lost $0.019 to settle at $3.8615 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.32 percent at $8,517 a ton.

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