Copper futures settled down on Thursday as US dollar strengthened against its major peers after stronger than US producer prices stoked concerns about a hawkish Fed interest rate cut next week. Copper prices weakened further by concerns over a potential surplus in the global copper market and lack of clarity on the size of the economic stimulus promised by China’s key policy meeting.
Copper futures for March delivery lost $0.019 to settle at $4.2445 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.09 percent at $9,091.50 a ton.