Copper futures settle down on Thursday

Copper futures ended lower on Thursday after US Federal Reserve’s Beige Book Indicated slower pace of US economic growth, even though the world’s largest economy has recently grown at a modest to moderate rate. Further slowing demand in top metal consumer China too adding pressure on base metal prices. Stronger American currency also made dollar-denominated metals less attractive for buyers using other currencies.

Copper futures for December delivery lost $0.1760 to settle at $4.5585 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 3.48 percent at $9,831.50 a ton.