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Copper futures settle higher as dollar weakens

27 Jul 2021 Evaluate

Copper futures ended higher on Monday as dollar weakened against a basket of peer currencies ahead of this week's US Federal Reserve’s monetary policy meeting with the dovish expectations. Further, strong demand from the world’s top metal consumer China too supported red metal prices.

Copper futures for September delivery gained $0.1850 to settle at $4.5850 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 3.08 percent at $9,809.50 a ton.