Copper futures settled lower on Thursday, as investors opted for booking taking from their recent sharp rally. Further, firm American currency also dampened copper sentiments. Meanwhile, the expected 50% rise in global copper demand by 2040, driven by expanding artificial intelligence, defense and robotics industries, has kept supporting the red metal.
Copper futures for March delivery fell $0.064 or 1.09% at $5.7965 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.39% at $ 12,720.50 a ton.