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Copper futures settle down on Monday

23 Jun 2026 Evaluate
Copper futures settled down on Monday, pressured by a stronger dollar and expectations that US interest rates will remain higher for longer following the Federal Reserve’s hawkish policy outlook. Additional pressure stemmed from the return of sulfuric acid supply following peace prospects in the Middle East, key for the copper refining chain, and Rio Tinto’s resumption of copper concentrate exports from its giant Oyu Tolgoi mine in Mongolia. Although some falls were limited by a pullback in energy prices after Iran reported major progress in peace talks with the United States.

Copper futures for July delivery fell $0.02 to settle at $6.3655 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was up by 0.40% at $13,649 a ton.

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