COMMODITY
Copper futures settle down on strong dollar
Oct-03-2023
Copper futures settled down on Monday as the US dollar strengthened against its major peers, makes copper more expensive to holders of other currencies. Meanwhile, strong US economic data fuelled prospects of higher for longer interest rates from the US Federal reserve, which could slow copper demand and US economic growth. Moreover, increase in stockpiles in exchange warehouses also weighed on copper prices.

Copper futures for December delivery declined $0.0960 to settle at $3.6415 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 2.63 percent at $8,053 a ton.

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