Copper futures settle lower on recession fears

Copper futures settled lower on Thursday as recession fears rise in the global markets after data showed the current inflation in the United States is still at a high level, and with pessimistic outlook for the soft landing of the US economy.

Copper futures for September delivery lost $0.0705 to settle at $3.71 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 1.7 percent at $8,258 a ton.