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Copper futures settle down on sluggish Chinese demand

25 May 2024 Evaluate
Copper futures settled down on Friday amid sluggish demand in the world’s top metal consumer China. Copper prices also weakened further on robust US and German economic data thar bolstered prospects of interest rates staying higher for longer on both sides of the Atlantic. However, weak American currency restricted some weakness in the copper prices.

Copper futures for July delivery lost $0.0390 to settle at $4.7535 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.9 percent at $10,324 a ton.