Copper futures settle down as mixed jobs report fuels rate cut uncertainty
Copper futures settled down on Thursday due to uncertainty over December rate cut by the Federal Reserve following a mixed US jobs report. Data showing that US employers added a surprisingly solid 119,000 jobs in September, while the unemployment rate rose to an almost four-year high of 4.4%. However, some falls were limited by reports that the world’s top metal consumer China is considering a fresh round of stimulus measures for its struggling real estate sector.
Copper futures for December delivery fell $0.05 to settle at $4.9685 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.13% at $10,738.50 a ton.
