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Copper futures settle down on Wednesday

02 Jul 2026 Evaluate
Copper futures settled down on Wednesday, pressured by a stronger dollar, firmer US Treasury yields, and caution regarding indirect talks between the United States and Iran. These negotiations concluded with no sign they had made headway toward a lasting peace. Moreover, concerns over potential US copper tariffs also weighed on base metals. Investors looked ahead to key monthly US jobs report due on Thursday for fresh insights into labour market conditions and greater clarity on the Federal Reserve’s policy outlook. However, some losses were limited after Federal Reserve Chair Kevin Warsh said inflation risks have eased, signalling there was no urgency to raise interest rates.

Copper futures for September delivery fell $0.0745 to settle at $6.1795 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.57% at $13,298.50 a ton.

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