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Copper futures settle down on firm dollar overseas

09 Feb 2024 Evaluate
Copper futures settled down on Thursday, driven by firm dollar after positive US Jobless Claims data reinforced the Federal Reserve's message that interest rates are unlikely to be cut in the near term. Copper prices weakened further on concerns over weak industrial demand against rising inventories in the world's top metal consumer China.

Copper futures for March delivery fell $0.0335 to settle at $3.7020 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.43 percent at $8,193.50 a ton.