Copper futures settle down on Tuesday
Copper futures settled down on Tuesday due to rising stockpiles of the industrial metal in the United States. Although, some falls were limited by reports that copper has added to the US government’s list of critical minerals deemed essential for America’s economic and national security, a move underscoring the metal’s growing importance to modern industries spanning energy and technology. Meanwhile, US reopening hopes and top consumer China’s new support measures have also capped downside in copper prices.
Copper futures for December delivery fell $0.04 to settle at $5.0660 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was up by 0.29% at $10,827 a ton.
