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Copper futures settle down on hotter-than-expected US inflation data

12 Jan 2024 Evaluate
Copper futures settled down on Thursday after hotter-than-expected US inflation data, that could delay a much-anticipated interest rate cut in March. Moreover, hawkish remarks from US Federal officials also dampened red metal prices. Although, a softer American currency makes copper cheaper for holders using other currencies.

Copper futures for March delivery lost $0.0045 to settle at $3.7765 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.19 percent at $8,355 a ton. 

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