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Copper futures settled down on firm dollar overseas

22 Oct 2024 Evaluate

Copper futures settled down on Monday tracking firm dollar overseas ahead of US presidential election, that makes copper more expensive for holders of other currencies. Meanwhile persisting Middle East tensions has also added more pressure on copper sentiments. However, some gains in copper prices were limited by China’s latest stimulus push to support the property and stock markets.

Copper futures for December delivery fell $0.0250 to settle at $4.3595 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.69 percent at $9,559 a ton.