Copper futures settle down on Thursday
Copper futures settled down on Thursday as hawkish holds from the US Federal Reserve, European Central Bank, and Bank of England this week signalled that interest rates will stay higher for longer, while escalating Middle East tensions also triggered aggressive liquidation across both precious and industrial metals. However, a weaker dollar limited falls by making the copper cheaper for international buyers.
Copper futures for May delivery fell $0.125 to settle at $5.4690 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 2.01% at $12,146.50 a ton.
