Copper futures decline on concerns over Chinese demand

Copper futures declined on demand concerns amid signals of slowing home sales in China, the world’s top consumer. However, dollar weakened against a basket of major currencies after the Federal Reserve released minutes from its last meeting, where it discussed the procedures for hiking interest rates, capped some losses in copper prices to some extent. Copper futures for July delivery slid 0.7% to settle at $3.123 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange closed down 0.78% to $6,831 a metric ton.