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Copper futures trade higher as dollar weakens

04 Jan 2021 Evaluate

Copper futures traded higher on Monday as US dollar weakened against its major peers with hopes for an eventual global economic recovery from Corona virus pandemic. Copper prices improved further by boosting investor confidence in the demand outlook after data showed expansion in factory activity in China.

Copper futures for March delivery gained $0.0495 at $3.5685 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.4% at $7,875 a ton.