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Copper futures settle down on firm American currency overseas

30 Jul 2024 Evaluate
Copper futures settled down on Monday on firm American currency at overseas markets ahead of US Federal Reserve's monetary policy announcement on Wednesday. Moreover, persisting concerns over demand from the world’s top metal consumer China, geopolitical concerns in the Middle East and higher inventories have also weighed on copper prices.

Copper futures for September delivery lost $0.0395 to settle at $4.0845 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.93 percent at $9,026 a ton.