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Copper futures settle down on Friday

16 Nov 2024 Evaluate
Copper futures settled down on Friday due to expectations of less aggressive interest rate cuts by the US Federal Reserve and as investors reacted to cabinet picks by Donald Trump. Moreover, weak Chinese demand has also dampened copper prices to some extent. Meanwhile, a steady dollar also made copper more expensive for overseas buyers. 

Copper futures for December delivery lost $0.0245 to settle at $4.0630 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.14 percent at $9,002.50 a ton.