Copper futures settled lower in U.S. trading on Thursday, weighed down by bearish sentiment over top consumer China and a stronger dollar.

Copper futures for July delivery, the most actively traded contract, settled about 1.5% lower to $2.1540 a pound on the Comex division of the New York Mercantile Exchange. Copper was down some 1.6% earlier in the day in London as well.The metal is down for four sessions in a row.

Copper prices are about 1% higher since the first trading session of the year, according to FactSet, with support from a weaker dollar earlier in the year offset by concerns over China?s economic health. The Asian powerhouse accounts for roughly 45% of global copper demand, but overproduction has anchored prices.

?China?s largest copper producer, Jiangxi, said the recent output cuts have been offset by new capacity in the country,? ANZ Research said in a note. ?A group of smelters announced last December that refined copper output would be cut by 400,000 tons.?

Source: WSJ.com