Copper futures settle down on Thursday
Copper futures settled lower on Thursday as markets reacted to stalled peace efforts between the United States and Iran, with continued naval blockades in the Strait of Hormuz raising concerns about global economic growth and industrial demand. Meanwhile, a stronger US dollar made copper more expensive for international buyers. However, some losses were limited by restocking activity in top consumer China ahead of the Labor Day holiday from May 1 to 5.
Copper futures for May delivery fell $0.047 to settle at $6.0815 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.58% at $13,355.50 a ton.
