Copper futures settled down on Wednesday due to uncertainty around trade policies on new US President Donald Trump. On Tuesday, US President Donald Trump had vowed to hit the European Union with tariffs and said his administration is discussing a 10% punitive duty on Chinese imports because fentanyl is being shipped from China to the United States via Mexico and Canada. Moreover, firm American currency against its major peers also weighed on copper prices.
Copper futures for March delivery lost $0.04 to settle at $4.3010 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.66 percent at $9,223.50 a ton.