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Copper futures finish down on demand woes

30 Aug 2024 Evaluate

Copper futures finished down on Thursday due to demand woes tracking firm American currency at overseas markets, while upbeat US Q2 GDP data trimmed expectations for a larger 50 basis point interest rate cut in September by the US Federal Reserve. Moreover, rising inventories in exchange-registered warehouses has also dampened sentiments.

Copper futures for September delivery lost $0.0020 to settle at $4.1475 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.18 percent at $9,244 a ton.