COMMODITY
Copper futures settle down on slightly stronger US currency overseas
May-08-2025
Copper futures settled down on Wednesday as the American currency remained slightly stronger against major peers overseas after the US Federal Reserve decided to keep its benchmark interest rates unchanged in the 4.25% - 4.50% range. However, some falls were limited after Goldman Sachs raised its near-term copper price forecast, citing a de-escalation in global trade tensions and resilient demand from the world’s top metal consumer China.

Copper futures for May delivery lost $0.1185 to settle at $4.6595 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.24 percent at $9,419.50 a ton.

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