Copper futures settled down on Thursday influenced by firm American currency at overseas and rising geopolitical tensions from the Middle East conflict, while uncertainty about whether Chinese stimulus measures will impact physical demand for red metal. Market sentiments weakened further by thin trading volumes as Chinese markets were closed for a week-long public holiday. Meanwhile, investors are awaiting the release of US September jobs data due later today for further insights on the pace of rate cuts.
Copper futures for December delivery lost $0.0960 to settle at $4.5530 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 2.17 percent at $9,866 a ton.