Skip to main content

MoneyWorks4Me

Copper futures settle higher on weak dollar

07 May 2021 Evaluate

Copper futures settled higher on Thursday on the back of a weakness in American currency (dollar) against its major rivals after comments from Fed officials cooled down hopes for higher rates in the United States. Copper prices gained further after the world’s top metal consumer China returning to work after a three-day national holiday for Labour day.

Copper futures for July delivery gained $0.0785 to settle at $4.6025 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.43% at $10,092.00 a ton.