Copper futures settled down on Thursday on weak demand as inventory remained at a four-year high in China, while strong American currency after data showed US business activity accelerated to the highest level in just over two years in May has also put pressure on commodity prices. US Manufacturing and services activity unexpectedly climbed in May as output growth accelerated sharply in May, though inflationary pressures persisted, S&P Global said.
Copper futures for July delivery lost $0.0560 to settle at $4.7925 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.01 percent at $10,417.50 a ton.