Copper futures settled down on Thursday due to growing uncertainty over the Federal Reserve’s plans for interest rate cuts, while investors are now awaiting US Nonfarm payrolls data for December due later on Friday. Moreover, concerns over demand from the world’s top meal consumer China and ongoing geopolitical tensions also dampened red metal prices.
Copper futures for March delivery lost $0.0175 to settle at $3.8440 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.59 percent at $8,466.50 a ton.