Copper futures settled almost flat on Friday after fresh US economic data reinforced expectations that the US central Bank will likely cut interest rates by a smaller 25 basis points next month. But, in an effort to support its troubled property sector, top metal consumer China is considering allowing homeowners to refinance as much as $5.4 trillion in mortgages to reduce borrowing costs for millions of families and boost consumption.
Copper futures for September delivery lost $0.0025 to settle at $4.1450 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.10 percent at $9,235 a ton.