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Copper futures settle down on sluggish demand from China

03 May 2024 Evaluate
Copper futures settled down Thursday driven by sluggish demand from the world’s top metal consumer China. However, some falls were limited by weak US dollar and a less hawkish stance by the US Federal Reserve on interest rate hikes.

Copper futures for July delivery fell $0.0615 to settle at $4.4845 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.31 percent at $9,765.50 a ton.