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Copper futures settle lower as dollar strengthens

16 Jan 2021 Evaluate

Copper futures settled lower on Friday as dollar strengthened against its major peers following surging corona virus cases across the globe. Though, hopes of a quick global economic recovery due to US President-elect Joe Biden's proposal of $1.9 trillion corona virus rescue package capped some losses.

Copper futures for March delivery gained $0.0625 to settle at $3.602 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.24% at $7,949 a ton.