Copper futures settled down on Wednesday ahead of cues on US inflation, while hawkish outlook on US interest rates also kept traders cautious towards metal markets. Meanwhile, muted American currency overseas also weighed on copper prices. However, some losses were limited with expectations of better demand from the world’s top metal consumer China.
Copper futures for July delivery lost $0.0640 to settle at $4.7910 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.43 percent at $10,456.50 a ton.