Copper futures settled down on Friday due to concerns over demand after weak manufacturing data from the world’s top metals consumer China. Data showed that China’s official manufacturing purchasing managers index dropped to 49.5 in May from 50.4 in April as the real estate crisis continues. Although, some losses were limited by the prospects of more stimulus measures by the Chinese government.
Copper futures for July delivery lost $0.0565 to settle at $4.6020 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.94 percent at $10,040 a ton.