Copper futures settled down on Thursday as hawkish comments from Chicago Fed President Austan Goolsbee and Cleveland Fed President Beth Hammack reduced expectations for more rate cuts this year. But weakness in the American currency against its major peers overseas and lingering US government shutdown have limited further falls in copper prices.
Copper futures for December delivery declined $0.0185 to settle at $4.9675 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.14% at $10,682.50 a ton.