Copper futures settled down on Thursday as the US dollar strengthened on reports that US President Donald Trump was seen as favoring Fed Governor Christopher Waller to be the new Fed Chair. Meanwhile, investors remained focused on whether the US and China will reach a durable trade agreement before an August 12 tariff deadline. However, persistent supply concerns following the suspension of a mine in the world’s top producer Chile, limited further falls in copper prices.
Copper futures for September delivery lost $0.0145 to settle at $4.3985 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.09 percent at $9,684.50 a ton.