Copper futures settled down on Thursday after reports showed that September producer prices rose much faster than expected, reinforcing expectations of further Federal Reserve rate hikes and dampening the demand outlook for industrial metals. Copper prices weakened further as worries over mine supply disruptions eased.
Copper futures for December delivery fell $0.104 to settle at $6.5565 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.99% at $14,347 a ton.