Copper futures settle down on Thursday
Copper futures settled down on Thursday as a sharp increase in exchange inventories and China’s modest economic growth target have weighed on copper rates, while rising energy prices also dented expectations for Fed rate cuts this year. Copper prices also pressurized by a stronger US dollar and inflationary risks tied to the ongoing war in the Middle East.
Copper futures for March delivery fell $0.103 to settle at $5.8045 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.19% at $12,902 a ton.
