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Copper futures settle down on Wednesday

11 Apr 2024 Evaluate
Copper futures settled lower on Wednesday due to firm American currency as stronger-than-expected inflation data faded hopes of a June interest rate cut from the US Federal Reserve. US Core CPI advanced 0.4%, above forecasts of a 0.3% rise. However, supply-side disruptions limited further falls in copper prices.

Copper futures for May delivery lost $0.0035 to settle at $4.2820 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.46 percent at $9,374 a ton.