Copper futures settled down on Wednesday, driven by sluggish demand and prevailing oversupply conditions in the market. However, some falls were limited by weak dollar following the Fed decision to hold rates at 5.25-5.50% and Chair Powell’s cautious comments.
Copper futures for July delivery fell $0.0185 to settle at $4.5460 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.96 percent at $9,895.50 a ton.