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Copper futures settle higher on weak Chinese data

16 Jul 2021 Evaluate

Copper futures ended higher on Thursday as weaker-than-expected growth from world’s top consumer China raised expectations the country would implement further monetary easing to support the economy. Further, US Federal Reserve's dovish stance on interest rate increases too supported red metal prices.

Copper futures for September delivery gained $0.0555 to settle at $4.3230 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.54 percent at $9,486.50 a ton.