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Copper futures settle down on demand worries

21 Mar 2024 Evaluate
Copper futures settled down on Wednesday, pressured by demand worries following mounting concerns about China's troubled and debt-laden property sector. Although, the US Federal Open Market Committee meeting left the benchmark interest rates unchanged at 5.25% - 5.5% for the fifth straight meeting, in line with market estimates. 

Copper futures for May delivery lost $0.0230 to settle at $4.0515 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.54 percent at $8,928 a ton.