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.