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.