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Copper futures settle down on demand concerns

29 Aug 2024 Evaluate

Copper futures settled down on Wednesday tracking ongoing concerns about demand in top consumer China, while firm American currency at overseas markets has also dampened sentiments. Meanwhile, traders awaited US inflation data that could offer clues on the pace of the Federal Reserve's imminent easing cycle.

Copper futures for September delivery lost $0.0880 to settle at $4.1495 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.98 percent at $9,260.50 a ton.