Copper futures settled down on Thursday on caution ahead of the release of the US Personal Consumption Expenditures Price Index. Moreover, concerns about demand in the world’s top metals consumer China, geopolitical tensions in the Middle East, and rising inventories have also dampened sentiments. However, some falls were limited with expectations that the Federal Reserve will start cutting interest rates later this year.
Copper futures for July delivery lost $0.0415 to settle at $4.3285 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.26 percent at $9,515.50 a ton.