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Copper futures settle higher on surging US dollar

06 Aug 2021 Evaluate

Copper futures settled higher on Thursday following rising US equities after data showed fewer Americans filed for unemployment benefits. However, surging US dollar as well as fast spreading of Delta variant virus in some major economies including China and the United States have capped further gains on copper prices.

Copper futures for September delivery gained $0.0155 to settle at $4.3480 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.27 percent at $9,491.50 a ton.