Copper futures settle down on Thursday
Copper futures settled down on Thursday amid increased supply from the world’s top metal consumer China after official data showed that China’s refined copper production rose 15% year-on-year in August, approaching its all-time high. Copper prices weakened further by the firm US dollar and Jerome Powell’s cautious stance on further monetary easing in the near term.
Copper futures for December delivery lost $0.0315 to settle at $4.6005 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.56 percent at $9,940 a ton.
