Copper futures settled down on Thursday as a firmer dollar makes copper more expensive for buyers using other currencies. Further, worse-than-expected factory data in the world’s top metals consumer China and lack of additional stimulus measures from Chinese government have also weighed on copper prices. Moreover, high inventories in exchange-approved warehouses are also dampening the sentiments.
Copper futures for September delivery lost $0.0940 to settle at $4.0825 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.87 percent at $9,052.50 a ton.