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Copper futures trade higher as dollar weakens

09 Nov 2020 Evaluate

Copper futures traded higher on Monday as dollar weakened against its peers after Democrat Joe Biden’s victory in the presidential election of United States. Further, expectations of fewer US regulatory changes and more monetary stimulus measures under Joe Biden too supported copper prices’ uptrend.

Copper futures for December delivery gained $0.0230 at $3.1770 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.6% at $6,990.50 a ton.