Copper futures closed down on Thursday as a stronger US dollar made copper more expensive for buyers using other currencies. Copper sentiments weakened further by weaker-than-expected purchasing managers index data from the world’s top metal consumer China. Meanwhile, persistent concern about the outlook for US interest rates also weighed on copper prices ahead of the release of closely watched inflation data on Friday.
Copper futures for July delivery lost $0.1325 to settle at $4.6585 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 3.07 percent at $10,135 a ton.