Copper futures settle down on Wednesday as a stronger American currency overseas makes copper more expensive for other currency holders along with growing expectations that the US central bank will adopt a more measured approach to interest rate cuts. Moreover, US presidential election uncertainties and Middle East tensions have also added pressure on red metal prices.
Copper futures for December delivery lost $0.0440 to settle at $4.3365 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.64 percent at $9,521.50 a ton.